Business
Costas, Inc. On The Move To Acquire New Labs
Costas, Inc. On The Move To Acquire New Labs.
About this update from Standard Dental Labs Inc.
[{"type":"text","content":"ORLANDO, FL / ACCESSWIRE / February 8, 2023 / Costas, Inc. (OTC PINK:CSSI) ("CSSI" or "the Company"), doing business as Standard Dental Labs Inc., continues discussions with several dental lab owners to acquire them.Soon after the acquisition of Prime Dental Lab in August of 2022, Standard Dental Labs (SDL) had also been in discussions with several other lab owners in the Orlando area, with the intent to acquire them. Last August, after only a few weeks of negotiation, the owner of Prime Dental agreed to the terms of acquisition, and the Company closed the deal with Prime Dental, however several other owners at the time expressed interest in the offer, and have shown continued interest in SDL.Since then, the Company made the decision to file an S-1 registration form, and submit audited financial statements with the intent of becoming a reporting issuer. This decision forced the Company to postpone discussions on the acquisition of any other labs in the short term. Now that the Company is closer to completing this process, SDL has re-opened discussions with 2 of the original lab owners, who are still interested in discussing the possibility of selling their businesses to the Company.In addition to these 2 labs, the previous owner of Prime Dental Lab, John Kim, has also been discussing with other Orlando based lab owners, his high level of satisfaction brought to him by the team at Standard Dental Labs. Mr. Kim has reported that 5 more lab owners are eager to work out terms to acquire their labs, and the Company has plans to prepare offers for them as soon as is practically possible.Costas, Inc. (operating as SDL), is committed to executing its plan to acquire as many dental labs in the Orlando area, and to consolidating those labs into one central, "Mega Lab". The Company has clearly identified targets, and the management of Costas will do its best to close an acquisition deal on any interested, and qualified dental lab.James Brooks, CEO of Costas and SDL, said on Tuesday that "There are thousands of baby boomers retiring in the US every day, and many of them own small businesses, like dental labs. Although we can't buy all these small businesses from them, we can buy dental labs, and we are ready to grow." According to a PEW Research study in November, 2020. COVID-19 has actually increased...