La Rosa Acquires Tenth Real Estate Brokerage Franchisee with Revenue of $4.7 Million and Positive Net Income in 2023
25 Abril 2024 - 9:30AM
La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the
“Company”), a holding company for five agent-centric,
technology-integrated, cloud-based, multi-service real estate
segments, today announced that it has completed an acquisition
transaction and now holds a 51% interest in the Company’s
franchisee - La Rosa Realty Lakeland LLC (DBA La Rosa Realty
Prestige) (“Prestige”), located in Lakeland, Florida with a
separate branch in Winter Haven, Florida.
Prestige generated revenue of $4.7 million and
had positive net income in 2023. The franchisee provides
residential and commercial real estate brokerage services. It also
provides coaching and support services to agents on a fee
basis.
Joe La Rosa, CEO of the Company, commented,
“With 162 agents, Prestige has solidified its position as number
two for agent count and number three for real estate sales in Polk
County, Florida in 2023. This latest acquisition represents yet
another milestone for the Company, aligning with our roll-up
strategy focused on acquiring profitable franchisees and further
solidifying our market position while creating value for
shareholders. This acquisition is expected not to only increase our
revenue but also, as we seamlessly integrate this and prior
acquisitions, we anticipate gaining the rewards of enhanced
operating efficiencies and economies of scale. We believe that
these advantages will further strengthen our competitive position
in the market and fuel our journey towards sustainable growth. With
this strategic expansion strategy firmly in place, we believe we
are positioned for significant advancement and remain on track to
achieve our goal of reaching an annualized revenue run rate of $100
million by the end of 2024. Furthermore, we anticipate attaining
profitability in 2025.”
About La Rosa Holdings
Corp.
La Rosa is a holding company for five
agent-centric, technology-integrated, cloud-based, multi-service
real estate segments. In addition to providing person-to-person
residential and commercial real estate brokerage services to the
public, the Company cross-sells ancillary technology-based products
and services primarily to its sales agents and the sales agents
associated with their franchisees. La Rosa's business is organized
based on the services they provide internally to their agents and
to the public, which are residential and commercial real estate
brokerage, franchising, real estate brokerage education and
coaching, and property management.
For more information, please
visit: https://www.larosaholdings.com.Stay connected with La
Rosa, sign up for news alerts
here: larosaholdings.com/email-alerts.
Forward-Looking Statements
This press release contains forward-looking
statements regarding the Company’s current expectations that are
subject to various risks and uncertainties. Such statements include
statements regarding the Company’s ability to grow its business and
other statements that are not historical facts, including
statements which may be accompanied by the words “intends,” “may,”
“will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Actual results could
differ materially from those described in these forward-looking
statements due to certain factors, including without limitation,
the Company's ability to achieve profitable operations, our ability
to successfully integrate acquisitions into our business
operations, to achieve economies of scale, customer acceptance of
new services, the demand for the Company’s services and the
Company’s customers' economic condition, the impact of competitive
services and pricing, general economic conditions and other risk
factors detailed in the Company's filings with the United States
Securities and Exchange Commission (the "SEC”). You are urged to
carefully review and consider any cautionary statements and other
disclosures, including the statements made under the headings “Risk
Factors” and elsewhere in documents that we file from time to time
with the SEC. Forward-looking statements contained in this
press release are made only as of the date of the this press
release, and La Rosa does not undertake any responsibility to
update any forward-looking statements in this release, except as
may be required by applicable law. References and links to websites
have been provided as a convenience, and the information contained
on such websites is not incorporated by reference into this press
release.
For more information, contact:
info@larosaholdings.com
Investor Relations Contact:Crescendo
Communications, LLCDavid Waldman/Natalya RudmanTel: (212)
671-1020Email: LRHC@crescendo-ir.com
La Rosa (NASDAQ:LRHC)
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