SOURCE: FBC Holdings.com

March 22, 2010 10:39 ET

FBC Holdings Signs Letter of Intent to Purchase Assets of Super Rad Toys

BEVERLY HILLS, CA--(Marketwire - March 22, 2010) -  FBC Holdings (OTCBB: FBCD) has signed an agreement to purchase Super Rad Corporation based in Los Angeles, CA. Super Rad holds numerous licenses to manufacture and distribute toys for many highly recognized names including Dr. Suess, Tootsie Roll, Love is..., as well as world renown artists such as Frank Kozik, Shin Tanaka, and Matthew Langille. "We are very excited to have the opportunity to work with Super Rad; their brand is rapidly growing, with several existing and new opportunities on the horizon, and we feel by combining our companies we can significantly increase revenue growth and profitability," said Christopher LeClerc, FBC's CEO. Sidney Richlin will remain with FBC Holdings and will head up the creative division of Super Rad; additionally he will play a major role in the licensing and distribution of products. "Having the opportunity to work with FBC is the right move for our business right now; with the growth we are experiencing coupled with the expertise that FBC brings to the table we are extremely excited for the future," said Richlin. As per the agreement FBC Holdings will issue 1.8 Million shares to the shareholders of Super Rad. Both companies plan to have a definitive agreement in place in the very near future. "These are exciting times; we are growing rapidly. The addition of Super Rad only further serves the goal of bringing revenue growth and profitability to our shareholder," said LeClerc.

Contact Information