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BRIEFLY

Recreation

March 07, 1996|Times Staff and Wire Reports

Anthony Pools Unit Sale Completed: Sporting goods product maker Anthony Industries Inc. said it completed the sale of the division for an undisclosed sum to closely held Moorpark-based General Aquatics Inc., which owns Sylvan Pools. The Los Angeles-based company said it received a $6.2-million subordinated note, about 9% of General Aquatic's stock, warrants to purchase more shares and certain Anthony Pools liabilities. The companies did not value the transaction or provide further information on the value of General Aquatic stock, which is not listed on a stock exchange. Anthony Industries decided to sell the unit because it was not contributing to earnings. The sale is expected to result in future cost savings and operating efficiencies. General Aquatics owns two other pool-related companies: American Products and Paragon.

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