Legend Investment Inc. announced that it has entered into a letter of intent to acquire 100% of Victory Brand, LLC. Based in Coldwater, Michigan, Victory Brand is privately held developer and marketer of valued priced, premium cigarettes. Victory Brand started the production and the provisioning of product in December of 2004, and currently is distributed nationally by three of the top ten national distributors in addition to approximately twenty-five regional and local distributors. VB “Made In the USA” products are currently marketed in thousands of convenience stores including 5,800 Sunoco and A Plus outlets. The company projects revenue of $77,800,000 for the next twelve months.
“We are thrilled at the opportunity to acquire Victory Brand. They have an outstanding product with a marketing and branding strategy using NASCAR racing that is a proven success. It is even more exciting that this is local,” said Peter Klamka, President of Michigan-based Legend Investment Corp. Victory Brand, LLC is the primary sponsor of the #14, Nextel Cup Ford driven by John Andretti. Victory Brand is currently the only cigarette sponsor associated with NASCAR Nextel Cup racing. The #14 car is owned by ppc Racing of Mooresville, NC, and backed by the Ford Motor Company. John Andretti (driver of the #14 VB/ A Plus at Sunoco Nextel Cup Series Car) stated: “I work in an ultra competitive environment (NASCAR), and Victory Brand is in a very similar place, being that of the tobacco Industry. To be able to work together towards our collective goals is very exciting. We plan to grow both into being a force within our respective industries. The acquisition of Victory Brand LLC by Legend Investment Inc. will only accelerate this process.” Steve Swick, CEO of Victory Brand, stated, “We are excited about the acquisition. Taking Victory Brand LLC into a public venue allows our current membership and venture partners, along with many of the 75 million loyal NASCAR fans, who have expressed an interest in shareholder participation, to share the spoils of future growth and profitability. We receive calls, almost daily, from racing fans inquiring as to how they can become investors and buy the stock. As a result of this acquisition ownership has become a viable option for all interested parties.”(Yahoo Biz)(4-13-2005)
