[StBernard] Boasso seeks new outlets after selling his business 'baby'

[Westley Annis]

Boasso seeks new outlets after selling his business 'baby'
by Jaime Guillet

Walter Boasso had a busy 2007. 

He ran for governor and sold his "baby," Boasso America Corp., an intermodal
container business he founded in 1985, to publicly traded Quality
Distribution Inc. based in Tampa, Fla. 

Quality Distribution acquired Chalmette-based Boasso America Corp Aug. 2,
2007, for about $60 million, subject to purchase price adjustments. Through
its subsidiary Quality Carriers Inc., Quality Distribution provides bulk
transportation and tank cleaning operations. Although Boasso had considered
a joint venture with Quality for operations in New Jersey and Savannah, Ga.,
he eventually decided it needed more resources to grow. 

"It's my baby. I nurtured it and grew it up but I knew long term if you
don't grow, you die and (Quality) agreed to everything I wanted," Boasso
said. "The headquarters stays in St. Bernard (Parish). It operates as a
wholly owned subsidiary. My ex-chief financial officer now runs the company.
My organization still controls management of the company. All people and
business stays headquartered in St. Bernard." 

Boasso said the sale was a "great opportunity for my employees" because the
added locations - from six to 116 - meant staff would now be able to
transfer to other locations if they wanted. Boasso will stay on as a
consultant for the firm until 2010. 

Boasso America Corp. earned $80 million in 2007. In 2008, Boasso America
Corp. will open facilities in New Jersey and Savannah, Ga., Boasso said. 

For now, Boasso is working on two new professional ventures: an aquaculture
facility and a virtual hunting Web site called "Virtual Big Game
Adventures." 

Boasso will launch his site May 1, which will allow hunters and "nature
lovers" to subscribe to the site and look at wildlife in real time or to
hunt virtually with a target. No animals will be hurt. Essentially, players
"shoot" at a target to win prizes such as four-wheelers and outdoor gear, he
said. 

Boasso's other iron in the fire is construction of a 52,000-square foot
aquaculture facility or saltwater fish hatchery on his property in southwest
Mississippi. Boasso said he always wanted a commercial saltwater fishery for
the wholesale and retail market, and it's a product "people are always going
to need." He plans to have BWR aquaculture up and running, with fish in the
water, by the end of the summer..