FAQ: Pride Holdings Group Acquisition of Cheer Up Charlie's LGBTQ+ Bar

What is the main announcement in this press release?

Pride Holdings Group has acquired Cheer Up Charlie’s, Austin’s #1 LGBTQ+ bar for the past 15 years, as part of the company’s national expansion strategy.

Why is this acquisition significant for Pride Holdings Group?

This marks a significant step in the company’s national expansion strategy and underscores its commitment to building the leading network of LGBTQ+ entertainment destinations in the United States.

Who are the key people involved in this acquisition?

The acquisition involves Pride Holdings Group CEO Mike Barrett and Cheer Up Charlie’s founders Tamara and Maggie, who will remain in leadership positions to ensure a seamless transition.

What will happen to Cheer Up Charlie’s management and identity after the acquisition?

Founders Tamara and Maggie will remain in leadership positions, ensuring a seamless transition while preserving the bar’s authentic community-driven identity.

What are Pride Holdings Group’s expansion plans in Texas?

Pride Holdings plans to expand its footprint throughout Texas, with future openings in Dallas, Houston, and San Antonio projected within 24 months.

What benefits does Cheer Up Charlie’s expect from joining Pride Holdings?

According to founder Maggie Lea, joining Pride Holdings will provide long-term stability, financial backing, and the ability to grow the brand across Texas while strengthening support for the diverse community that makes Cheer Ups special.

What is Pride Holdings Group’s business focus and stock symbol?

Pride Holdings Group (OTC: PHSE) is a national leader in LGBTQ+ hospitality and entertainment, focusing on acquiring high-value properties and creating inclusive hospitality experiences while delivering sustainable growth to shareholders.

Where can I find more information about this acquisition?

For more information, visit www.prideholdingsgroup.com or contact Media Relations at [email protected].

What makes Cheer Up Charlie’s such an important acquisition target?

Cheer Up Charlie’s has consistently held the #1 spot among Austin LGBTQ+ nightlife venues for 15 years, making it a cornerstone of the city’s cultural and entertainment scene with its vibrant community and inclusive atmosphere.