Kenny Koretsky Purchases Nitro Fish Wear Apparel Company and Trademark
RICHBORO, Pa., Feb. 1, 2005 - Entrepreneur Kenny Koretsky announced Tuesday the purchase of Nitro Fish Wear, the company that sponsors his NHRA Pro Stock race team.
"I may be one of the few drivers out there who has purchased his sponsor's company," said Koretsky, of Richboro, Pa. "but I have a good feeling about it. The apparel is very popular among drag racing fans. Our goal is to eventually take the Nitro Fish Wear brand into new, mainstream markets."
Koretsky and Luke Nicodemus, president and chief executive officer of LBJ Corporation and the holder of the Nitro Fish trademark, resolved the sale after several months of negotiations.
"We have some other marketing ideas we'll be working on now" added Koretsky. "Fans may see Nitro Fish Wear expanding into other forms of racing, too."
"I am excited about this," said Nicodemus, the Dallas/Fort Worth area resident who created all the apparel's artwork. "I believe Kenny has the energy and the horsepower to take the company to the level where it should be. Over the years, the Nitro Fish brand has been recognized on and off the race tracks. We'll be going forward with ideas I think will enable us to inject new enthusiasm into the product."
Koretsky will become the Nitro Fish CEO and chairman of the board. "My first priority is to hire a new company president who will work to help us accomplish our goals," Koretsky said.
"We are excited to continue our relationship with Kenny, even though our role changes to product supplier and consultant," said David Woodruff of Tre Magna, the former master licensee of the Nitro Fish brand. "This also gives us the opportunity to grow our wholesale business and, at the same time, give Kenny the opportunity to maximize the Nitro Fish brand."
Koretsky and the Nitro Fish Wear Dodge Stratus team begin 2005 NHRA POWERade Series competition at the CarQuest Auto Parts Winternationals, Feb. 10-13, at Pomona, Calif.