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Tradewinds Universal (OTC:TRWD) announced Thursday it has entered into a letter of intent with Scar Holdings LLC, also known as Peppermint Hippo, to form a dedicated division for acquiring and developing clubs under the Peppermint Hippo brand. The company disclosed the agreement in a statement based on a recent SEC filing.
The first planned transaction under this agreement is the acquisition of Peppermint Hippo Toledo, located in Toledo, Ohio. The letter of intent outlines a staged growth strategy that may allow Tradewinds Universal, in collaboration with Peppermint Hippo, to acquire up to ten Peppermint Hippo-branded clubs, with the possibility of adding several related venues.
According to the filing, Tradewinds Universal’s long-term strategy includes pursuing additional acquisitions across the United States with the goal of building a diversified nightlife and hospitality group of up to 100 clubs. The company stated that this approach is intended to enable orderly expansion and compliance with regulatory requirements.
The completion of any acquisition is subject to due diligence, regulatory approvals, and the negotiation and execution of definitive agreements.
The company cited industry estimates that place the U.S. bars and nightclubs market at approximately $36 billion to $39 billion annually, with the gentlemen’s club segment accounting for about $8 billion. Tradewinds Universal is classified as an emerging growth company.
All information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
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