Sunset Brands, Inc. (Sunset Capital Assets), Is Privileged to Announce the Strategic Acquisition of
April 24, 2013 at 09:30 AM EDT
Sunset Brands, Inc. (Sunset Capital Assets), Is Privileged to Announce the Strategic Acquisition of Investment Capital Fund Group (ICFG)
Jacksonville, FL, April 24, 2013 /FSC/ - Sunset Brands, Inc. (SSBN - OTC Pink),a Nevada corporation, trading on the Over the Counter (OTC) markets "pink sheets" as SSBN, announced today that the Company finalized the strategic acquisition of Investment Capital Fund Group (ICFG), a privately held automobile financial services company corporately located in Macon, Georgia.
ICFG has assets exceeding $70 million. The assets consist of collateralized and uncollateralized auto loans and leases. ICFG is a nationally licensed servicer of such loans in 40 States. The company began operating in 2009 and by 2010 had exceeded gross revenues of $600K. In 2011, gross revenues doubled to $1.2 million and have continued to grow each year. Last year in 2012, IGFG revenues increased to $1.6 million and the projections for 2013 are expected to increase substantially with the addition of SSBN's corporate strength.
SSBN CEO, Alan Speck said, "This is another significant move along our plan to offer a complete range of financial services. We trust the acquisition will contribute immediately to our balance sheet strength and is a "pillar" and a strong contributor to the holding company's performance. By leveraging the recently announced increase in our asset base, this business, along with future acquisitions, will be positioned for exponential growth. We are in the process of finalizing agreements on an additional acquisition clearly demonstrating a solid positioning in the financial services business sector."
ICFG CEO, Gene Smith adds, "The combination of ICFG's revenue model, coupled with the balance sheet strength of Sunset, will allow ICFG to fully implement a move to originate, both directly and indirectly, a marketing strategy that moves ICFG to the forefront as a "financing" source to both new car dealerships as well as high end used car dealers in the Southeastern US."
Sunset Brands, Inc. dba Sunset Capital Assets is a diversified financial services firm focusing on acquisition and investment in federally insured banks, mortgage companies, real estate, title insurance, insurance, and management and consulting service primarily in the Southeast United States.
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Our forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters.
Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and
actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.
Jeffrey S. Betros
Sunset Brands, Inc
Source: Sunset Brands, Inc. (SSBN - OTC Pink) http://www.usfinancialassets.com
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