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Battlefield-based Russell Cellular Inc. has expanded its national footprint via acquisition.
The company purchased 56 locations in 11 states from Sioux Falls, South Dakota-based CellOnly, which amounts to a buyout of the company, said Nathan Mindeman, chief strategy officer of Russell Cellular, via email. He declined to disclose the financial terms of the deal.
The stores opened today as full-service Verizon-branded locations under Russell Cellular. CellOnly had 40 corporate stores and 16 subagent locations, one of which was in Springfield, Mindeman said.
"The addition of these new stores will allow Russell Cellular to expand and fill in its existing footprint across the central, mountain and southern portions of the U.S., and offer more distribution in these areas," said Jeven Russell, co-president, in a news release. "These locations are a perfect complement to our existing service areas, and we are excited about the expansion and opportunity to serve our new customers and welcome new team members to Russell Cellular."
With the purchase, Russell Cellular has 812 stores in 44 states. Some 130 CellOnly employees and five district sales managers have joined the local company.
Russell Cellular ranked No. 2 last year in Springfield Business Journal's Dynamic Dozen awards, recognizing fast growth. The company reported 2021 revenue of $848.8 million, representing three-year revenue growth of 42%.
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