Sunset Brands, Inc. (Sunset Capital Assets), Is Privileged to Announce the Strategic Acquisition of Investment Capital Fund G...
April 24 2013 - 9:30AM
Business Wire
Sunset Brands, Inc., (SSBN), a Nevada corporation, trading on
the Over the Counter (OTC) markets “pink sheets” as SSBN, announced
today that the Company finalized the strategic acquisition of
Investment Capital Fund Group (ICFG), a privately held automobile
financial services company corporately located in Macon,
Georgia.
ICFG has assets exceeding $70 million .The assets consist of
collateralized and uncollateralized auto loans and leases. ICFG is
a nationally licensed servicer of such loans in 40 States. The
company began operating in 2009 and by 2010 had exceeded gross
revenues of $600K. In 2011, gross revenues doubled to $1.2 million
and have continued to grow each year. Last year in 2012, IGFG
revenues increased to $1.6 million and the projections for 2013 are
expected to increase substantially with the addition of SSBN’s
corporate strength.
SSBN CEO, Alan Speck, said, "This is another significant move
along our plan to offer a complete range of financial services. We
trust the acquisition will contribute immediately to our balance
sheet strength and is a 'pillar' and a strong contributor to the
holding company’s performance. By leveraging the recently announced
increase in our asset base, this business, along with future
acquisitions, will be positioned for exponential growth. We are in
the process of finalizing agreements on an
additional acquisition clearly demonstrating a solid
positioning in the financial services business sector.”
ICFG CEO, Gene Smith adds, “The combination of ICFG’s revenue
model, coupled with the balance sheet strength of Sunset, will
allow ICFG to fully implement a move to originate, both directly
and indirectly, a marketing strategy that moves ICFG to the
forefront as a “financing” source to both new car dealerships as
well as high end used car dealers in the Southeastern US.”
Sunset Brands, Inc. dba Sunset Capital Assets is a diversified
financial services firm focusing on acquisition and investment in
federally insured banks, mortgage companies, real estate, title
insurance, insurance, and management and consulting service
primarily in the Southeast United States.
This press release includes forward-looking statements intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. Our
forward-looking statements express our current expectations or
forecasts of possible future results or events, including
projections of future performance, statements of management's plans
and objectives, future contracts, and forecasts of trends and other
matters. Forward-looking statements speak only as of the date of
this filing, and we undertake no obligation to update or revise
such statements to reflect new circumstances or unanticipated
events as they occur. You can identify these statements by the fact
that they do not relate strictly to historic or current facts and
often use words such as "anticipate", "estimate", "expect",
"believe," "will likely result," "outlook," "project" and other
words and expressions of similar meaning. No assurance can be given
that the results in any forward-looking statements will be achieved
and actual results could be affected by one or more factors, which
could cause them to differ materially. For these statements, we
claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act.
SSBN CONTACT:Jeffrey S. BetrosInvestor RelationsSunset
Brands, Inc904-436-6217jbetros@sunsetcap.net
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