Avalon Park Group/Kahli Holding AG Acquires 9.2% of VOXX International Corporation
Avalon Park Group/Kahli Holding AG Acquires 9.2% of
VOXX International Corporation
Orlando, FL (April 13, 2020) – Kahli Holding AG, the Swiss holding company founded by Beat Kahli, who is also President and CEO of Avalon Park Group, has acquired a 9.2% stake in VOXX International Corporation (Nasdaq: VOXX). VOXX is a global leader in consumer electronics, high definition audio, automotive security and mobile entertainment systems.
While Avalon Park Group’s primary line of business is real estate development, and as such, is one of the leaders in building master planned communities in Central Florida, Beat Kahli explains that it has always been his philosophy to diversify the company’s holdings and assets. “The global real estate market is cyclical and capital intense, which makes it imperative for a successful company to diversify,” said Kahli.
“Avalon Park Group differs from the traditional developer; in that we build complete towns from scratch.” said Kahli. “We recognize a need and fill it, and usually that is accomplished by creating a partnership with an industry leader in that arena.” Kahli additionally explained that those partnerships not only help support the communities they build, but to create that diverse portfolio that is believed to be essential for successful businesses.
Avalon Park Group has a current pipeline of over $3 billion. Additionally, past involvements have included, the largest independent concrete producer in Florida, Prestige AB Ready Mix, now part of Preferred, a subsidiary of CRH, Ireland’s second-largest corporation, and Data Transfer Solution a technology company, which today is part of the SNC Lavelin-Atkins Group of Canada and England. Other industries have also included high-speed internet, restaurants, rainwater, energy, swimwear, newspaper, specialty paper, batteries, landscaping, bio fruit juice, home building, mining and more.
Not only is the company diverse in the industries they are part of, but the locations it serves. With a presence on 4 continents, North America, Asia, Europe and Australia, the Avalon Park Group of companies has a large global reach. These investments are currently evaluated at corporate headquarters in Orlando, FL and at the sister company offices, Launchpad APAC, Pte. Ltd., in Singapore.
When asked about what attracted them to VOXX, Kahli, said they were drawn by VOXX’s leading global position in the automotive and audio industry, a stable core business segment, large distribution network and an established customer base. Additionally, that he is positive that the recent partnerships with groups like SiriusXM and Fire TV will continue to boost the group’s revenue, increase exposure and offer fresh opportunities for partnership in new areas which will help the company to constantly reinvent itself and stay relevant as it has successfully done in the last 60 years.
Kahli said, “I am enthusiastic to work with the management of VOXX to weather the current economic crisis as the company has the fundamentals to not only emerge stronger but also offer greater value to all shareholders.”
About VOXX International Corporation
Established in 1960, VOXX has since grown into a worldwide leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, a number of premium audio market segments, and consumer accessories with a portfolio of over 30 trusted brands such as Audiovox, ASA Electronics, Vehicle Safety Holdings, Eyelock and Klipsch, the #1 premium loudspeaker brand in the audio market. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world’s leading automotive manufacturers.
About Avalon Park Group
Avalon Park Group is a uniquely diversified family of companies engaged in businesses ranging from master-planned community development, to home building, mining and property management, in Florida, Texas, Switzerland Singapore and Australia. With more than $1 billion in total assets, Avalon Park Group combines its exceptional reputation, sound business experience and significant financial resources to invest in extraordinary opportunities. At Avalon Park Group, our mission is to change the way the world lives, learns, works and plays through creating healthy sustainable communities and every aspect thereof. For more information on Avalon Park Group, visit www.AvalonParkGroup.com or call 407-658-6565.
Contact: Beat Kahli, 321-229-4116, Andreas Derzsi, Singapore, +41 (0) 41 545 85 10, Stephanie Lerret, Avalon Park Group, 407-427-6073.