Standard Diversified Opportunities Inc. Subsidiary Standard Outdoor Significantly Expands Southeast Presence Through Acquisition of 80+ Billboards
Expands into Northern Alabama Market
NEW YORK–(BUSINESS WIRE)– Standard Diversified Opportunities Inc. (“Standard Diversified” or the “Company”) (OTCQB:SDOIA) announced an asset acquisition, consisting of over 80 billboard structures, located in the Birmingham and Huntsville, Alabama markets from Quality I/N Signs and Outdoor Advertising, LLC. The purchase was made by the Company’s wholly owned subsidiary, Standard Outdoor LLC (“Standard Outdoor”), a full-service outdoor advertising company.
The purchase includes the groundleases and advertising contracts related to each structure and represents Standard Outdoor’s entry into Alabama, an expansion from its current market presence in and around Austin, Texas. Standard Outdoor expects a substantial increase in outdoor advertising revenues as a result of this transaction.
Ian Estus, Chief Executive Officer of Standard Diversified, stated, “Our team is excited about the strategic expansion of our business, along with the prospect for continued growth over the coming months and years.” The acquisition provides a jumpstart for Standard Outdoor, led by its President, Mike Morrill, to establish itself in the Southeastern market.
Williamson & Associates acted as the exclusive broker and assisted in the negotiations on behalf of Quality I/N Signs and Outdoor Advertising, LLC.
About Standard Diversified Opportunities Inc.
Standard Diversified Opportunities Inc. is a holding company that owns and operates subsidiaries in a variety of industries, including insurance, other tobacco products and outdoor advertising.
About Standard Outdoor LLC
Standard Outdoor is a full-service outdoor advertising company.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements address, among other things activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including the Company’s expected acquisition activity. These forward-looking statements are subject to a number of risks that could cause actual results to differ materially from those contained in the forward-looking statements, including those risks described in Part II, Item 5 of the Company’s Quarterly Reports on Form 10-Q for the quarters ended June 30, 2017 and September 30, 2017, as filed with the Securities and Exchange Commission.
Currently unknown or unanticipated risks, or risks that emerge in the future, could cause actual results to differ materially from those described in forward-looking statements, and it is not possible for the Company to predict all such risks, or the extent to which this may cause actual results to differ from those contained in any forward-looking statement. Except as required by law, the Company assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events, or otherwise.
The Equity Group Inc.
Adam Prior, 212-836-9606
Source: Standard Diversified Opportunities Inc.