FAQ: Pride Holdings Group's Acquisition of Lips Chicago and Divas DDD Rebranding
Summary
Pride Holdings Group has acquired Lips Chicago and will rebrand it under their successful Divas DDD concept, projecting a 25% year-over-year revenue lift and strengthening their position in LGBTQ+ hospitality.
What is the main announcement in this press release?
Pride Holdings Group has acquired Lips Chicago and will rebrand it under their successful Divas DDD concept, which is expected to drive significant revenue growth and strengthen their LGBTQ+ hospitality portfolio.
Why is this acquisition significant for Pride Holdings Group?
This acquisition accelerates revenue growth, strengthens brand positioning, expands their geographic reach, and delivers enhanced shareholder value while reinforcing their leadership in LGBTQ+ hospitality.
How will the Lips Chicago location change after the acquisition?
Lips Chicago will be converted and upgraded under the Divas DDD brand, building on the successful Fort Lauderdale Divas DDD model, with operational enhancements expected to generate a 25% year-over-year revenue lift.
Who is the CEO of Pride Holdings Group and what did they say about this move?
Mike Barrett is the CEO, who stated this is a pivotal moment that expands both reach and revenue base, with Pride scaling ‘with purpose, with profit, and with pride.’
What financial impact is projected from this acquisition?
The Chicago location is expected to generate a 25% year-over-year revenue lift following rebranding and operational enhancements, contributing to strong financial growth projections for 2026.
Where is Pride Holdings Group headquartered and what is their stock symbol?
The company is based in Fort Lauderdale, FL and trades on the OTC market under the symbol PHSE.
What is Pride Holdings Group’s business focus?
They are the premier LGBTQ+ hospitality and cultural rollup, focusing on acquiring high-value properties, launching tech-enabled membership platforms, and creating new revenue channels through agency services.
What should readers know about the forward-looking statements in this release?
The press release contains forward-looking statements about expected revenue growth and expansion that involve known and unknown risks and uncertainties, and actual results may differ materially from projections.
Who should interested parties contact for more information?
Media relations can be reached at [email protected] for additional information about this announcement.
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