LaSalle Brands Corporation Acquires Licensing Rights Of Lasalle Brands Ice Cream For National Retail Chain

Business Wire:

LaSalle Brands Corporation has acquired the exclusive licensing rights of LaSalle Brands Ice Cream from trademark owners Medhat Mohamed and LaSalle Brands Inc. Pursuant to the terms in the Purchase Agreement between the parties executed on January 17, 2008, LaSalle Brands Corporation has acquired the licensing rights for a total purchase price of $1,000,000. LaSalle Brands Corporation intends to complete a full acquisition of LaSalle Brands Inc. and is in the final stages of its due diligence process.

In 2005 LaSalle Brands Inc. opened its Premiere Retail location on Third Avenue in New York City offering a variety of distinctive ice cream flavors, gelato, and exceptional fruit sorbets. In addition to ice cream, gelato, and sorbets, LaSalle Brands Inc. also includes fine imported cookies and its own LaSalle brand coffee. LaSalle Brands Corporation intends to use this successful business model as a benchmark for a national chain. The Company has already leveraged some of the best franchising personnel in the business, and is preparing the ground work needed for a very aggressive franchising campaign.