SOURCE: Jackrabbit

Jackrabbit

October 27, 2014 11:47 ET

Jackrabbit Announces Record Growth

Organization Expands to Meet Increased Demand

RIPON, CA--(Marketwired - Oct 27, 2014) - A robust California almond and walnut harvest provided an ideal platform for Jackrabbit to unveil new products and exceed sales predictions for the 2014 harvest season. The 2014 harvest was the first full season under Jackrabbit's new private equity ownership. "The Company experienced higher sales than ever, surpassing expectations of the new ownership," says Danny Thomas, Vice President of Sales for Jackrabbit.

In order to accommodate the growth in 2014 and projected demand for 2015, Jackrabbit has reorganized and expanded, adding an official Service Department, tripling the size of the Engineering Department, expanding the Supply Chain Department, and hiring two additional Sales Representatives. "As our customer base continues to expand, our organization is also expanding to meet their needs," explains Bob DeMont, CEO of Jackrabbit. "These additions ensure that we continue our focus on listening to the needs of growers and developing products that help them be more efficient."

Growers and Jackrabbit dealers in California now have a Jackrabbit sales contact based on their location. John Krum, (559) 696-5562, will manage sales south of Fresno, Jason Baptista, (209) 595-1114, will manage Madera to Sacramento, and Lloyd Mason, (530) 788-5718, will manage sales north of Sacramento. Pecan and hazelnut growers can contact Danny Thomas, (209) 373.9932.

About Jackrabbit
Jackrabbit was founded in 1982 by Earl Anderson, revolutionizing the almond harvest with his Jackrunner shuttle system that radically cuts treenut pick up time. Anderson passed away in 2012 during the sale of the company to a partnership of two private equity companies -- Gladstone Investment (NASDAQ: GAIN) and Pegasus Capital Group. For more information visit www.jackrabbit.bz

About Gladstone
Gladstone Investment Corporation is a publicly-traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. The Company pays monthly dividends to its stockholders. Additional information can be found at www.gladstonecompanies.com

About Pegasus
Pegasus Capital Group is a Los Angeles-based private equity firm that invests in companies with at least $2 million of operating cash flow. The firm focuses on acquiring profitable private and corporate-owned middle-market companies that have significant growth potential. Its transactions provide liquidity for individual owners, their families, outside investors and/or parent corporations. Further information is available at www.pegasuscapgroup.com 

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