The Experiential Agency(TM) Closes Acquisition of Alice's Garden, a Chicago Floral and Event Decor Firm
09 August 2004 - 9:00PM
PR Newswire (US)
The Experiential Agency(TM) Closes Acquisition of Alice's Garden, a
Chicago Floral and Event Decor Firm XA to Open Floral and Decor
Design Centers in Chicago and New York CHICAGO, Aug. 9
/PRNewswire-FirstCall/ -- The Experiential Agency(TM) (XA) (OTCBB:
EXAG), a major national event marketing firm that serves many
Fortune 500 companies, reported that it has acquired Alice's
Garden, one of Chicago's most prestigious providers of floral and
event decor. The acquisition is immediately accretive to earnings.
Chairman and CEO Frank Goldstin of XA said, "In addition to the $1
million in revenue in the next 18 months that XA expects Alice's
Garden to bring to the company, XA will gain significant
competitive and economic advantages by bringing Alice's Garden's
design capabilities in-house. The completion of this acquisition is
a major step in strengthening the vertical integration of the
Company. The acquisition will also benefit our clients by enhancing
XA's world-class services and will benefit our shareholders by
gaining the efficiencies and wider margins of a vertically
integrated organization." An award-winning Chicago retail florist
as well as a provider of floral and event decor for corporate and
social occasions for more than 13 years, Alice's Garden has
provided floral arrangements and decor for Chicago's most
prestigious hotels and luxury retailers. Among its clients are the
Four Seasons, Ritz Carlton and Peninsula Hotels as well as such
distinguished retail stores as Van Cleef & Arpels and Lalique.
Jointly, XA and Alice's Garden produced event decor for The NBA,
Six Continents Hotels, W Hotels, AstraZeneca, ABN AMRO and
McDonald's Corporation among others. Joining XA is a team of eight
floral and decor experts, which is being lead by Darren Andereck,
the former co-owner of Alice's Garden, who recently joined XA as
executive vice president and creative director. The closing of the
acquisition, Goldstin said, advances XA plans to open a
state-of-the-art Design Center in Chicago. The center will house
the retail store featuring a wide assortment of premium floral and
display items as well as a facility to showcase XA's design and
fabrication capabilities to clients in an exciting environment. The
center will further enable XA's ability to fabricate decor and
environmental design elements for its prestigious roster of
corporate clients and highly visible brands. The Design Center is
expected to open in September. The event marketing industry
generates nearly $80 billion a year in direct spending, according
to a study by Deloitte & Touche LLP. Moreover, corporate
spending on event marketing has been growing; it rose 15% in 2003
and it is predicted to generate an additional 15%-to-20% growth in
2004. (Source: PROMO Magazine) About The Experiential Agency, Inc.
The Experiential Agency (XA) has full service offices in Chicago,
New York and Los Angeles from which it provides corporations and
highly visible brands with comprehensive event marketing, design
and production services. Since 1989, Chairman and CEO Frank
Goldstin and his team have been the creative force behind
prestigious, national projects for such clients as The NBA,
McDonald's, Song Airlines, Eurex, Olympus, Salvatore Ferragamo,
Vogue, W Hotels, ABN AMRO and Emirates Airline. In 2003, Special
Events magazine ranked XA as one of the "Top 50 Powerhouse Event
Companies in the World." This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In particular, when used
in the preceding discussion, the words "believes," "expects,"
"intends," "will," "anticipated," or "may," and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act and are subject to the safe harbor
created by the Act. Except for historical information, all of the
statements, expectations and assumptions contained in the foregoing
are forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by
management are not necessarily the most likely and may not
materialize. In addition, other important factors that could cause
actual results to differ materially include the following: business
conditions and the amount of growth in the company's industry and
general economy; competitive factors; ability to attract and retain
personnel; the price of the Company's stock; and the risk factors
set forth from time to time in the Company's SEC reports, including
but not limited to its annual report on Form 10-KSB; its quarterly
reports on Forms 10-QSB; and any reports on Form 8-K. The
Experiential Agency, Inc. (OTCBB: EXAG) takes no obligation to
update or correct forward-looking statements and also takes no
obligation to update or correct information prepared by third
parties that is not paid for by the Company. For more information,
please contact: Company Investor Relations Media Relations Lara
Shipp Truc N. Nguyen Stan Froelich XA Stern & Co. Stern &
Co. 312-397-9100 ext. 2399 VP, Investor Relations VP, Media
Relations 212-888-0044 212-888-0044 DATASOURCE: The Experiential
Agency, Inc. CONTACT: Company, Lara Shipp of XA, +1-312-397-9100
ext. 2399, ; Investor Relations, Truc N. Nguyen, VP, Investor
Relations, , or Media Relations, Stan Froelich, VP, Media
Relations, , both of Stern & Co., +1-212-888-0044 Web site:
http://www.expagency.com/
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