Published:
Legend Investment Announces Letter of Intent to Acquire Victory Brand, LLC
Coldwater, Michigan-Based Cigarette Company to Be First Portfolio Company for Ann Arbor BDC
Legend Investment Inc.
today announced that it has entered into a letter of intent to
acquire one hundred percent of Victory Brand, LLC. Based in Coldwater,
Michigan, Victory Brand is privately held developer and marketer of valued
priced, premium cigarettes. Victory Brand started the production and the
provisioning of product in December of 2004, and currently is distributed
nationally by three of the top ten national distributors in addition to
approximately
twenty-five regional and local distributors.
VB "Made In the USA" products are currently marketed in thousands of
convenience stores including 5,800 Sunoco and A Plus outlets. The company
projects revenue of $77,800,000 for the next twelve months.
"We are thrilled at the opportunity to acquire Victory Brand. They have an
outstanding product with a marketing and branding strategy using NASCAR
racing that is a proven success. It is even more exciting that this is
local," said Peter Klamka, President of Michigan-based Legend Investment
Corp.
Victory Brand, LLC is the primary sponsor of the No. 14, Nextel Cup Ford
driven by John Andretti. Victory Brand is currently the only cigarette
sponsor associated with NASCAR Nextel Cup racing. The No. 14 car is owned
by PPC Racing of Mooresville, North Carolina, and backed by the Ford Motor
Company.
John Andretti (driver of the #14 VB/ A Plus at Sunoco Nextel Cup Series Car
and noted racing celebrity) stated: "I work in an ultra competitive
environment (NASCAR), and Victory Brand is in a very similar place, being
that of the tobacco Industry. To be able to work together towards our
collective goals is very exciting. We plan to grow both into being a force
within our respective industries. The acquisition of Victory Brand LLC by
Legend Investment Inc. will only accelerate this process."
Steve Swick, CEO of Victory Brand, stated, "We are excited about the
acquisition. Taking Victory Brand LLC into a public venue allows our
current membership and venture partners, along with many of the 75 million
loyal NASCAR fans, who have expressed an interest in shareholder
participation, to share the spoils of future growth and profitability."
We receive calls, almost daily, from racing fans inquiring as to how they
can become investors and buy the stock. As a result of this acquisition
ownership has become a viable option for all interested parties."
Legend Investment Corp is a publicly traded business development
corporation regulated by the Investment Act of 1940.
Statements in this press release that are not purely historical are
forward-looking statements, including statements regarding Legend's
beliefs, expectations, hopes or intentions regarding the future.
Forward-looking statements in this release include, but are not limited to,
statements regarding the projected revenue of Victory Brand, LLC products,
future growth plans and the ability to complete the acquisition; and
sometimes contain words such as "believe," "expect," "intend,"
"anticipate," "plan," and "estimate" or similar expressions. It is
important to note that actual outcomes and the Company's actual results
could differ materially from forward-looking statements. Readers should
also refer to the risk disclosures outlined in the Company's reports filed
with the Securities and Exchange Commission.
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