NEW YORK, Oct. 7, 2015 (GLOBE NEWSWIRE) -- Daniels Corporate Advisory Co. Inc. (OTCQB:DCAC) today announced the execution of a letter of intent (LOI) for the first acquisition by the Club/Entertainment segment of the Company's Food and Beverage Group. The potential club acquisition, located in an affluent Long Island suburb, has over $2 million in annual Revenues and 17+ percent reconstructed earnings before taxes. Daniels Corporate Advisory recently announced that the Food and Beverage Group, formed in July, 2015, would focus on acquiring Italian Café's and Clubs with Entertainment in the New York metro area.
The acquisition target has a reputation for providing quality entertainment and Daniels' Food and Beverage Group plans to expand demographic appeal with more varied acts, increase food offerings to grow food and liquor sales concurrently and ultimately rebrand to integrate future club acquisitions. Continuity of management and personnel is integral to the deal - in addition to an initial one-year advisory agreement with the seller, Daniels plans to retain operations and service personnel after the acquisition. In addition, Daniels will add a dedicated operations manager and appropriate advisory board members for implementing operational and marketing improvements.
Terms of the LOI call for an initial cash payment to the seller with the outstanding remainder a note payable in two equal installments in years two and three. At that point the seller may elect to convert the note payments to shares in Daniels Corporate Advisory at a discount to market, which is potentially beneficial to both the seller and Daniels Corporate Advisory.
"We are pleased to have done the due diligence and executed the first letter of intent leading to what we believe will be the first of many acquisitions by our Food and Beverage Group," said Daniels Corporate Advisory CEO Arthur Viola. "We look forward to closing this deal and being able to talk more openly about this exciting first acquisition."
As previously announced the Daniels' Food and Beverage Group is focused on acquiring Italian Café's and Clubs with Entertainment in the New York metro area with annual sales from $300,000 to $3 million that are cash-flow positive. Once acquired, Daniels Corporate Advisory professionals with specific niche experience will fine-tune operations and marketing in the expansion of each acquisition with eventual integration into a unified and themed brand entity.
The Company will provide more details upon successful completion of the acquisition and will continue to provide updates on progress in this area on a regular basis.
About Daniels Corporate Advisory Company, Inc.
Daniels Corporate Advisory Company, Inc., a corporate strategy and business incubation Company, acquires niche business opportunities in predetermined industries. With the creation of unique growth modeling, DCAC provides capital, human resources, marketing concepts and sales strategies to each of their target acquired business entities. The Company deploys a professional team, each with business acumen suited to a particular acquired industry segment, working diligently in providing collective expertise with the objective of adding growth and earnings. DCAC believes successful executions and economies of scale create lower-cost financing options and provides strong consolidated financial matrixes. www.danielscorporateadvisoryco.com
This release may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors, which may cause DCAC's actual results, performance, or achievements to be materially different from actual future results expressed or implied by the forward-looking statements. Management undertakes no obligation to update any forward-looking statements after the date of such statements.
CONTACT: Arthur D. Viola 347-242-3148 firstname.lastname@example.orgSource:Daniels Corporate Advisory Company, Inc.