CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Instagram Outage Disrupts Thousands of U.S. Users 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
TORONTO, Jan. 14, 2016 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) (NASDAQ:FSV) (“FirstService”) announced today that its California Closets business has further expanded its company-owned operations with the acquisition of its Los Angeles franchise. California Closets is a unit of FirstService subsidiary, FirstService Brands, and is the leading North American provider of closet and home storage solutions with 80 franchised and corporate-owned locations. Terms of the transaction were not disclosed.
“This transaction advances our strategy of acquiring California Closets franchises in certain key markets and integrating them with our existing company-owned platform,” said Charlie Chase, President & CEO of FirstService Brands. “We now have a dozen corporate-owned locations which are being configured with our centralized manufacturing facility in Phoenix to drive greater efficiencies and profitability.”
“We are excited with the prospects of owning a key market like Los Angeles,” said Bill Barton, President & CEO of California Closets. “We gain a foothold in a marquee, fast-growing territory which has significant potential for further market share penetration through our industry-leading brand,” he concluded.
About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.
FirstService generates more than $1.2 billion in annual revenues and has more than 15,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Subordinate Voting Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV".
For the latest news from FirstService Corporation, visit FirstService.com.
COMPANY CONTACT: Jeremy Rakusin CFO FirstService Corporation (416) 960-9500
