mehr als 20 Mio profitablen Umsatz eingekauft...das sollte helfen
Headliners Signs Contract to Acquire Chain of Dance Clubs
MONTCLAIR, N.J., June 29, 2004 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTCBB:HLNR) announced today that it has signed binding agreements to acquire a chain of dance clubs. The chain includes ten club complexes, located in Columbia SC, St. Louis MO, Miami FL, Tulsa OK, Kansas MO, Omaha NE, Jackson MS, Cincinnati OH, Tucson AZ, and Louisville KY. The agreements provide for closing of the acquisition as soon as the audits of the financial statements of the clubs are completed.
This clubs currently generate over $20,000,000 in annualized revenue, with a 15% pre-tax profit.
The clubs have to date been owned and operated by JHF Properties, LLC, which is headquartered in Dublin, Ohio. JHF Properties will continue to manage the clubs after the acquisition from its Ohio offices. JHF's two executives will remain with JHF, and will provide consulting and management services for five years.
Ed Rodriguez, Headliners Chairman, CEO, and President of the company, commented as follows: "The process was slow, and the doubters were loud, but the result is excellent. We knew from the outset of our negotiations that our two organizations belonged together, and the time was well spent finding just the right formula to maximize profit and potential while minimizing problems and expenses."
"I believe that our combined revenue for 2005 will easily reach or exceed 30 million dollars, with no reduction in the existing profitability of the clubs we are acquiring. With the addition of club complexes already in construction and with those to be added in the next year, Headliners is heading towards becoming the leader in its field."
|