BAHAMAS DEVELOPMENT CORP. EXECUTES ASSET PURCHASE AGREEMENT TO
ACQUIRE PERFORMANCE WEAR APPAREL MANUFACTURING COMPANY
-
Acquisition currently generates revenue in excess of $1 million per
year
- Both
acquisitions will have combined revenues well in excess of $2
million annually
- Combined
net revenues after economies of scale will exceed $400,000
annually
Jackson, MS -- February 21, 2017 -- InvestorsHub NewsWire --
Bahamas Development Corporation (OTC: BDCI) has executed an Asset
Purchase Agreement (APA) to acquire a U.S. based wholesale
performance wear apparel manufacturing company. The apparel
manufacturing company currently generates approximately $100,000 a
month in revenue.
The apparel manufacturing acquisition announced today
complements the previously announced acquisition of a fast-growing
wholesale turnkey performance lifestyle apparel company, which
itself generates approximately $1 million per year in revenue.
While both companies focus on the "HOT" Athleisure category, each
has its own existing operations and distribution channels.
Both companies are synergistic in nature, and the acquisitions
have been structured to avoid any dilution to BDCI.
The apparel manufacturing company being acquired specializes in
MADE IN THE USA, 100% moisture wicking mesh polyester performance
wear with UPF 40 Sun Protection, and dye sublimation printing.
Services include creative, dye sublimation printing, cut and sew
operations, custom packaging/labeling and fulfillment.
The company manufactures private branded and co-branded apparel
and services several clients. Sales are made through multiple
websites, and other wholesale channels. Current customers include
major fishing, marine & outdoor retail stores, marinas, special
events, hospitality, agriculture, team sports, diving, and the U.S.
military.
As a result of the acquisition, BDCI expects to achieve
economies of scale both with respect to raw material purchases, as
well as other manufacturing processes. BDCI also aims to build and
rollout new websites in order to expand its combined trademarked
brands and to reach out directly to retail customers.
About the Performance Apparel/Athleisure market:
The rise in athleisure has given apparel sales a significant
boost in the last couple of years. In 2014, US consumers spent $323
billion on apparel, footwear and accessories, according to The NPD
Group. This was a $2 billion increase from the prior year, and
largely thanks to dramatic growth in sales of activewear. Morgan
Stanley predicts that, by 2020, activewear will represent $83
billion in sales, stealing market share from non-athletic apparel.
According to Stylus, The athleisure phenomenon looks set to
continue into 2016 and beyond, and is now on course to become one
of the fastest-growing global apparel product categories in the
second half of this decade.
Bahamas Development Corporation, in compliance with SEC
regulations, may in the future use social media outlets like
Facebook or Twitter and its own website to announce key information
in compliance with Reg FD.
For additional information about this release please contact:
Investor Relations:
769-218-1796
https://twitter.com/bahamasdevcorp
https://www.facebook.com/Bahamas-Development-Corporation-469640663243771/
info@bahamasdevelopmentcorp.com
http://www.bahamasdevelopmentcorp.com/
Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27(a) of the United States Securities
Act of 1933, as amended and Section 21(e) of the Securities
Exchange Act of 1934, as amended. Statements in this press release
which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward-looking statements
include, among other things, estimates of services and
equipment markets, release of corporate apps, growth of platform,
target markets, product releases, product demand and, business
strategy. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties
associated with new projects and development stage companies. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also consider that
any investment in securities is at risk.
Details of the Company's business, finances, appointments and
agreements can be found as part of the Company's continuous public
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