- Acquisition currently generates revenue in excess of $1 million per year - Both acquisitions will have combined revenues well in
excess of $2 million annually - Combined net revenues after economies of scale will exceed $400,000 annually
JACKSON, MS / ACCESSWIRE / February 21, 2017 / Bahamas Development Corporation (OTC PINK: BDCI) has executed an Asset Purchase
Agreement (APA) to acquire a U.S. based wholesale performance wear apparel manufacturing company. The apparel manufacturing company
currently generates approximately $100,000 a month in revenue.
The apparel manufacturing acquisition announced today complements the previously announced acquisition of a fast-growing
wholesale turnkey performance lifestyle apparel company, which itself generates approximately $1 million per year in revenue. While
both companies focus on the "HOT" Athleisure category, each has its own existing operations and distribution channels.
Both companies are synergistic in nature, and the acquisitions have been structured to avoid any dilution to BDCI.
The apparel manufacturing company being acquired specializes in "MADE IN THE USA", 100% moisture wicking mesh polyester
performance wear with UPF 40 Sun Protection, and dye sublimation printing. Services include creative, dye sublimation printing, cut
and sew operations, custom packaging/labeling and fulfillment.
The company manufactures private branded and co-branded apparel and services several clients. Sales are made through multiple
websites, and other wholesale channels. Current customers include major fishing, marine & outdoor retail stores, marinas, special
events, hospitality, agriculture, team sports, diving, and the U.S. military.
As a result of the acquisition, BDCI expects to achieve economies of scale both with respect to raw material purchases, as well
as other manufacturing processes. BDCI also aims to build and rollout new websites in order to expand its combined trademarked
brands and to reach out directly to retail customers.
About the Performance Apparel/Athleisure market:
The rise in Athleisure has given apparel sales a significant boost in the last couple of years. In 2014, US consumers spent $323
billion on apparel, footwear and accessories, according to The NPD Group. This was a $2 billion increase from the prior year, and
largely thanks to dramatic growth in sales of activewear. Morgan Stanley predicts that, by 2020, activewear will represent $83
billion in sales, "stealing market share from non-athletic apparel." According to Stylus, "The Athleisure phenomenon looks set to
continue into 2016 and beyond, and is now on course to become one of the fastest-growing global apparel product categories in the
second half of this decade."
Bahamas Development Corporation, in compliance with SEC regulations, may in the future use social media outlets like Facebook or
Twitter and its own website to announce key information in compliance with Reg FD.
For additional information about this release please contact:
Investor Relations: 769-218-1796 https://twitter.com/bahamasdevcorp
https://www.facebook.com/Bahamas-Development-Corporation-469640663243771/ info@bahamasdevelopmentcorp.com
http://www.bahamasdevelopmentcorp.com/
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities
Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release
which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment
markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking
statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe
that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that
any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set
forth herein and should also consider that any investment in securities is at risk.
Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public
disclosure on otcmarkets.com.
SOURCE: Bahamas Development Corporation
