FOREMAN DOCUMENTARY TO AIR ON EPIX TOMORROW NIGHT; FOREMAN GRILL MANUFACTURER TO EXPAND IN TO CHINA
FOREMAN, a documentary telling the story of world champion boxer, entrepreneur and businessman George Foreman, will premiere on EPIX (OTC: MGMB) tomorrow night (September 13TH), at 8:00 P.M. EST. In 1994, at 45 years old, Foreman reclaimed the heavyweight title he had lost 20 years earlier to Ali and agreed to what would become the second most lucrative endorsement partnership in history (Jordan/Nike), with the launch of his George Foreman grill. The manufacturer of those grills, Spectrum Brands (SPB), has just announced they are expanding in to China, agreeing with Chinese e-commerce company JD.com to open a series of flagship stores that will sell Spectrum Brand products.
Howie Long-Short: Of the $5 billion in Spectrum Brand sales in 2016, only 3% came from Asia-Pacific. With 258 million people (JD.com customer base) about to get their first look at the Foreman Grill, a run on lean meaning fat reducing grilling machines looks to be on the horizon.
Fan Marino: Salton Inc., which has since merged with Spectrum Brands (SPB), paid Foreman $137.5 million in cash and stock to buy him out and to utilize his name on the product in perpetuity, back in 1998. Foreman made more than $200 million in total from the grill.