Expands into Florida and Georgia; Brings the Company’s Total Faces to 384
NEW YORK--(BUSINESS WIRE)-- Standard Diversified Opportunities Inc. (“Standard Diversified” or the “Company”) (OTCQB: SDOIA) today announced an asset acquisition, consisting of 86 billboard structures located in Florida and Georgia, from Vista Outdoor Corporation. The purchase was made by the Company’s wholly owned subsidiary, Standard Outdoor LLC (“Standard Outdoor”), a full-service outdoor advertising company.
The purchase includes the ground leases and advertising contracts related to each structure and represents Standard Outdoor’s entry into Florida and Georgia, an expansion from its current market presence in Alabama and Texas. The billboards are a mix of both digital and static faces, with the majority located along the I-95 corridor in northern Florida / southern Georgia.
This acquisition by Standard Outdoor, led by its President, Mike Morrill, is its second in 2018 and brings the Company’s total number of faces to 384. The Company remains focused on leveraging its relationships and expertise to target prime opportunities in desirable, growth oriented markets.
About Standard Diversified Opportunities Inc.
Standard Diversified Opportunities Inc. is a holding company that owns and operates subsidiaries in a variety of industries, including insurance, other tobacco products and outdoor advertising. For more information about the Company, please visit the Company’s website at www.standarddiversified.com.
About Standard Outdoor LLC
Standard Outdoor is a full-service outdoor advertising company.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements address, among other things activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including the Company’s expected acquisition activity. These forward-looking statements are subject to a number of risks that could cause actual results to differ materially from those contained in the forward-looking statements, including those risks described in Part II, Item 5 of the Company’s Quarterly Reports on Form 10-Q for the quarters ended June 30, 2017 and September 30, 2017, as filed with the Securities and Exchange Commission.
Currently unknown or unanticipated risks, or risks that emerge in the future, could cause actual results to differ materially from those described in forward-looking statements, and it is not possible for the Company to predict all such risks, or the extent to which this may cause actual results to differ from those contained in any forward-looking statement. Except as required by law, the Company assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events, or otherwise.
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The Equity Group Inc.
Adam Prior, (212) 836-9606
Source: Standard Diversified Opportunities Inc.