In a conference call with analysts Wednesday, Assante Corp.’s CEO, Marty Weinberg, suggested that the one-time consolidator could be shopping in Canada again soon.
Weinberg outlined an eight-point strategy for the firm this year. He said that the firm will:
- focus on clients and advisors;
- build on its sales momentum;
- seek strategic alliances;
- look at acquisitions;
- continue simplifying its share structure and improve disclosure:
- seek analyst coverage:
- expand its product offerings; and
- brand its sports and entertainment channel businesses in the United States.
In a question and answer session with analysts, Weinberg indicated that the firm would be open to opportunistic acquisitions in both Canada and the U.S. The firm, which began as an aggressive consolidator in Canada, has not made a notable acquisition in Canada for several years now.
As for strategic alliances, Weinberg said that it is entertaining the idea of alliances in everything from product development to manufacturing, distribution and back office operations. In the meantime, it expects to spend some of its free cash flow on improving its back office in Canada, funding product development, integrating its U.S. businesses, and possibly, acquisitions.
As for its sports businesses, Weinberg noted that Assante represents now-notorious Canadian Olympic co-champion pairs skaters, Jamie Salé and David Pelletier. The firm indicated that its hockey, baseball and basketball businesses are growing, while football is declining.