Business
Costas, Inc. Closes Agreement To Acquire Assets of Standard Dental Labs Inc.
Costas, Inc. Closes Agreement To Acquire Assets of Standard Dental Labs Inc..
About this update from Standard Dental Labs Inc.
[{"type":"text","content":"ORLANDO, FL / ACCESSWIRE / May 6, 2022 / Costas, Inc. (OTCMKTS:CSSI), Costas, Inc. ("CSSI" or "the Company"). About COSTAS (CSSI): http://www.otcmarkets.com/stock/CSSI/profile.COSTAS, INC. is a publicly traded company listed on OTCMarkets under the trading symbol ‘CSSI'. As previously announced, on February 28th, 2022, the shareholders of Standard Dental Labs Inc. ("SDL") voted unanimously in favor of accepting an offer from CSSI to acquire its assets. The Company is pleased to announce the parties have entered into a formal acquisition agreement, which is expected to close in the coming days. The completion of this acquisition will cement the Company's entry into the dental lab industry, paving the way for future acquisitions and consolidations in the industry.The business model acquired from SDL, a company incorporated in Wyoming in 2019, and controlled by Mr. Brooks, the Company's CEO, has developed branding and a detailed business plan to facilitate the acquisition of small to medium sized dental labs, of which there are thousands in the United States. Similar models have been extensively used in the medical clinic and dental clinic industries over the past 30 years, but dental laboratories remain highly fragmented. "Consolidating small, privately owned labs into larger, regionally managed facilities will bring economies of scale, and enhance competitiveness and product quality in regional markets." said Costas CEO, James Brooks.SDL has been actively looking for dental lab owners interested in selling their labs over the recent months. With the recently acquired consolidation model and ready to launch branding, the Company expects to identify several suitable acquisition targets in the coming weeks and months, with the goal of becoming one of the largest operators in the industry. "There's no faster way to grow than through acquisition, and this industry, in particular, remains unsophisticated in the public sector.", added Brooks.Consolidation of this industry, currently represented by 7,000+ privately owned businesses, is now the Company's focus. The acquired business model will allow the Company to quickly identify suitable targets, to build and scale in order to become regionally competitive. In the process, the Company will be positioning itself as a leader in setti...