FRESNO, Calif., Aug. 22, 2012 /PRNewswire/ -- Black Castle Developments Holdings, Inc. (Pink Sheets: BCDH) ("BCDH"), a holding company targeting the acquisition of undervalued, niche companies, announced today that it has signed a Letter of Intent (LOI) to acquire 100% of Global Force, LLC, an international sales and marketing company with over 20 years of experience representing the world's largest Fortune 500 companies. Global Force has offices in Denver, Colorado, USA; Asia; Europe; and South America. The acquisition is scheduled to close on August 29, 2012.
With this acquisition, BCDH will gain the exclusive licensing rights to sell and distribute eco.kid (http://www.ecokidusa.com/), a certified organic, FDA-approved consumer product line to treat the hair, scalp and skin of children aged 3-12 years old. Up to 99% of the raw materials used in eco.kid's unique formulations conform to ECOCERT (www.ecocert.com/en), the industry standard for ecological and organic cosmetics. Upon the close of the acquisition, BCDH will begin distributing eco.kid products for the first time in the United States.
"Ray Kim, CEO of Global Force, has successfully launched a number of household names for many of today's top-selling consumer product manufacturers in the U.S. and overseas," said Blair Waycott, CEO of BCDH. "With this acquisition, BCDH not only benefits from Global Force's existing expertise and client base, but also will be the first-to-market the FDA-approved eco.kid in the U.S. The revenue and profit potential of the eco.kid product alone can put BCDH on a tremendous trajectory for enhancing shareholder value."
Upon the close of the acquisition, Global Force will operate as a wholly owned subsidiary of BCDH. The all-stock transaction is expected to be non-dilutive to existing shareholders for the first year, who stand to appreciate 100% of its newly acquired company's growth.
About Global Force, LLC.
Global Force has successfully led the commercial product sales, marketing and distribution for Fortune 500 companies as Procter & Gamble, The Coca-Cola Company, ConAgra Foods International, Vivendi Universal Games, NBC Universal, GE, Garuda Indonesia Airlines, Cathay Pacific Airways, Eastern Skyjets, Air Atlanta Icelandic, and many others. Global Force represents clients in industries including: consumer products, technology, finance, entertainment and aviation among others. The Company has experience and points of presence spanning five different continents and over 25 countries. For more information, visit www.globalforcellc.com.
About Black Castle Developments Holdings, Inc.
Black Castle Developments Holdings, Inc. ("BCDH") is a holding company focused on the merger and acquisition of undervalued, revenue-generating companies that operate in high-growth niche markets. BCDH plans to leverage its management resources and status as a public entity to assist acquired companies to achieve and/or grow their profitability. For more information, visit www.blackcastledevelopments.com.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE Black Castle Developments Holdings, Inc.