BOCA RATON, FL--(Marketwired - Dec 2, 2015) - PF Hospitality Group, Inc. (
"We are very excited to welcome EXO to our company's brand portfolio," said Vaughan Dugan, Chairman and CEO of PF Hospitality Group. "Mrs. McComb has successfully established EXO within the growing market of functional fitness apparel that is difficult to penetrate, and is well-positioned at the hub of today's active, healthy lifestyles of discerning consumers. This acquisition marks a critical stage of PF Hospitality Group's expansion into the consumer retail market, a segment in which shareholders can expect we will be aggressively building."
EXO ( www.exosleeve.com ) has been a major player in the athlete global consumer market for the past several years: having a banner year in 2015 as the brand of choice for numerous elite functional fitness athletes including Brooke Ence, Elijah Muhammad, Lauren Brooks, and Noah Ohlsen and Olympic Weightlifters competing on world & national stages. EXO's products are utilized in functional athletic fitness, powerlifting, Olympic Weightlifting, endurance training, boot camps, circuit training programs, and strength training protocols, and are sold in brick and mortar stores in the U.S. as well as numerous online e-retailers including amazon.com , wodshop.com and wickedfitness.com.au . EXO's growth throughout the U.S., Australia, Canada, Denmark, Ireland, Mexico and Spain combined with management's plan to expand into categories that appeal to complementary consumer demographic segments have been among the considerations for PF Hospitality Group.
"We are excited to be anchoring part of PF Hospitality's new portfolio of distinct retail brands," said Sloane McComb, CEO of EXO. "EXO is a brand founded on designing fashionable, functional, affordable products for athletes, while staying ahead of the trend. With PF Hospitality Group's marketing leadership, operational expertise, we now will be able to reach a much larger audience of consumers worldwide."
Pursuant to the MOU entered into by and between the Company and EXO on November 25, 2015, the Company will acquire a 100% of EXO. The terms and conditions of the definitive agreement are currently being reviewed between the two parties, and further details will be disclosed upon completion of the definitive agreement. As President of EXO, and through this transaction, McComb will continue to lead the direction of the acquired company in servicing and expanding the existing business and will be responsible for evaluating potential new product lines to add to EXO's retail assortment. In addition, McComb will assist in targeting other unique, growing brands within the retail space as possible additions for PF Hospitality Group's expanding portfolio.
For more information on other PF Hospitality Group projects, please visit: www.PFHospitalityGroup.com .
About PF Hospitality Group
PF Hospitality Group, Inc., (
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This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these for- ward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Investor Relations: 561-939-2520 IR@PFHospitalityGroup.com Media Relations: Nicole Biscuiti (561) 445-0447 n.biscuiti@PFHospitalityGroup.com
