NEW YORK, Oct. 14, 2015 (GLOBE NEWSWIRE) -- Daniels Corporate Advisory Co. Inc. (OTCQB:DCAC) today announced that it is conducting negotiations and due diligence on two promising Italian Café acquisitions by the Company’s Food and Beverage Group. Combined, the two Italian Cafés generate $1 million in annual sales with approximately $300,000 EBITDA. The Cafés are both located on Long Island’s affluent North Shore and the Company expects to complete both acquisitions by the end of November 2015.
Daniels Corporate Advisory recently announced that the Food and Beverage Group, formed in July 2015, would focus on acquiring Italian Cafés and Clubs with Entertainment in the New York metro area. On October 7, 2015 the company executed a letter of intent for their first Food and Beverage Group acquisition, a club with entertainment also located in Long Island with over $2 million in annual Revenues and 17+ percent reconstructed earnings before taxes.
In addition, Daniels Corporate Advisory is actively seeking advisory board members and qualified management candidates with experience in owning and operating successful chain establishments and entertainment venues.
Acquisition terms for the two Italian Cafés will follow the model Daniels has established which provide the seller an initial cash payment with notes payable in two equal installments in years two and three following the acquisition. The seller may elect to convert the notes to shares in Daniels Corporate Advisory at a discount to market, which provides opportunity for appreciation to the seller and retains cash reserves for Daniels Corporate Advisory.
“We are developing good momentum and are seeing an increasing number of potential deals cross our desks,” said Daniels Corporate Advisory CEO Arthur Viola. “We are being very selective in our process and are conducting exhaustive due diligence to assure the financials, reputation and potential of each acquisition correlate with the integrity of our Food and Beverage Group.”
Daniels’ Food and Beverage Group is focused on acquiring Italian Cafés and Clubs with Entertainment with annual sales from $300,000 to $3 million that are cash-flow positive. Once acquired, Daniels Corporate Advisory professionals with specific niche experience will fine-tune operations and marketing in the expansion of each acquisition with eventual integration into a unified and themed brand entity.
The Company will continue to provide updates on acquisitions on a regular basis.
About Daniels Corporate Advisory Company, Inc.
Daniels Corporate Advisory Company, Inc., a corporate strategy and business incubation Company, acquires niche business opportunities in predetermined industries. With the creation of unique growth modeling, DCAC provides capital, human resources, marketing concepts and sales strategies to each of their target acquired business entities. The Company deploys a professional team, each with business acumen suited to a particular acquired industry segment, working diligently in providing collective expertise with the objective of adding growth and earnings. DCAC believes successful executions and economies of scale create lower-cost financing options and provides strong consolidated financial matrixes. www.danielscorporateadvisoryco.com
Forward-Looking Statements:
This release may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors, which may cause DCAC's actual results, performance, or achievements to be materially different from actual future results expressed or implied by the forward-looking statements. Management undertakes no obligation to update any forward-looking statements after the date of such statements.