Black Castle Developments Holdings, Inc. Completes Acquisition of A-Shine Inc. and Enters Over $600 Billion Dining and Hospital
Black Castle Developments Holdings, Inc. Completes Acquisition of A-Shine Inc. and Enters... -- FRESNO, Calif., Feb. 15, 2012 /PRNewswire/ --
Black Castle Developments Holdings, Inc. Completes Acquisition of A-Shine Inc. and Enters Over $600 Billion Dining and Hospitality Industry
FRESNO, Calif., Feb. 15, 2012 /PRNewswire/ -- Black Castle Developments Holdings, Inc. (Pink Sheets: [ BCDH ]), a holding company targeting the acquisition of undervalued, niche companies, announced today that it has completed its strategic acquisition of A-Shine, a pioneer in glass polishing technology for the global restaurant and hospitality industry. Terms of the transaction were not disclosed.
The restaurant industry is the nation's second largest private sector employer. For 2012, industry sales are expected to reach a record high of $632 billion, a 3.5 percent increase over 2011, according to the National Restaurant Association. Jeff Holroyd, CEO and president of BCDH stated, "We are delighted to close this transaction and enter an industry that is growing above the national economy. A-Shine offers technology advances that enable restaurants, hotels, fine dining establishments and others in the hospitality industry to drive costs. This acquisition provides the potential for substantial top- and bottom-line growth as we bring A-Shine's product innovation to large and profitable markets."
Aaron Rogers, the CEO of A-Shine Inc., said, "I am delighted to become part of the BCDH family. The unconventional and inefficient processes of glass polishing can be revolutionized with our innovative technology. This acquisition enables A-Shine to grow our customer base and demonstrate the need for significant cost reductions in our defined target markets. BCDH's strong capital base will help us achieve organic growth by servicing our North America clientele and then expanding our business internationally."
Mr. Holroyd added, "Given the reliability and quality of A-Shine Inc.'s technology and the expertise of its employees, this acquisition is an excellent addition to BCDH's portfolio. Now combined with our integrated portfolio, business platform, and access to an untapped global market share, BCDH is poised to add further shareholder value."
About A-Shine Inc.
A-Shine Inc. is a pioneer in the restaurant and hospitality industry that manufactures and markets an innovative glass polishing device. What was once a manual process, A-Shine has founded a breakthrough technology to make polishing glass more automated, effective, and cost efficient. The polisher has the ability to not only polish wine glasses of various size and toughness, but will also be able to polish all standard glassware currently used within the restaurant and hospitality venues. A-Shine will be the industry leader and provide its clientele with a safer, more efficient, cost saving product that will modernize and revolutionize the way glasses are polished.
About Black Castle Developments Holdings, Inc.
Black Castle Developments Holdings, Inc. ("BCDH") is a holding company focused on the merger and acquisition of undervalued, revenue-generating companies that operate in high-growth niche markets. The Company has a solid track record of acquiring, integrating, and growing companies, most recently with the acquisition of A-Shine Inc. BCDH plans to leverage its management resources and status as a public entity to assist acquired companies to strengthen their local presence, grow internationally and achieve sustainable, profitable growth. For more information, visit [ www.blackcastledevelopments.com ].
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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Black Castle Developments Holdings, Inc.
559-435-2300
[ info@blackcastledevelopments.com ]
[ www.BlackCastleDevelopments.com ]
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