(Sugar Land, Texas) February 21, 2012 – Rhodes Holdings LLC (“RHL”) has entered into joint letters of intent (“LOI”) to acquire two restaurants in the Fort Bend County area. The restaurant concepts are diametrically opposed, casual dining pizzeria and fine dining restaurant, but both restaurants share common characteristics, including:
- Break even operations
- A concept that supports doubling revenue at a 35%+ profit margin
- Currently no marketing budget
- A fresh renovation
While working with the restaurant management group that owns both restaurants, RHL decided that entering into an LOI to acquire both restaurants was the best way to seek the hidden value within each restaurant. RHL seeks to close the acquisition or other disposition of the restaurants within 90 days.
“Rhodes Holdings’ ability to model businesses and unlock the value for the current owners has led us into interesting territory,” said Robert C. Rhodes, Managing Member at RHL. “We have worked with the current management company for three months and will seek to retain them in an ongoing fashion with the restaurants currently under LOI. This arrangement as well as our financing capabilities will allows us to add to our investments in the restaurant business through opportunistic acquisitions.”
About Rhodes Holdings LLC
Rhodes Holdings LLC (www.rhodes-holdings.com, “RHL”) provides management consulting services that allow its clients to seek financing through the public markets, either through mezzanine debt, equity, or bank debt. RHL management consulting is provided within the framework of its copyrighted and RHL Methodology documented. (Please note that RHL provides all financing options requiring licenses, both state and federal, through associations with companies that carry those licenses and keep them up to date, i.e. mortgage banking licenses, FINRA required broker dealer licenses, etc.)
Safe Harbor Statement
The statements in this presentation that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
© 2012 by Rhodes Holdings LLC, all rights reserved. Original posting at FreePressRelease.com at http://www.free-press-release.com/news-rhodes-holdings-enters-into-loi-with-two-restaurants-1329809402.html.