Artfest International, Inc. announced today that it has launched an aggressive merger and acquisition campaign. The company recently received a $5 Million equity line of credit through an investment banking agreement with Delaney Equity Group, LLC. Artfest International is currently in the process of acquiring Charity Sports Distributor, Inc.
Artfest International is targeting organizations that will fit into its overall business model as well as synergize with its current subsidiaries, Art Channel, Inc. and Art Galleries, Inc. Some of the merger and acquisition candidates currently being evaluated are in a variety of sectors within the art, memorabilia and media industries, such as art galleries, sports memorabilia companies, television networks, production companies, printers and manufacturers, and frame manufacturers.
Edward Vakser, CEO of Artfest International, Inc., stated, “We are looking to strengthen our market position through key acquisitions in the art, memorabilia, and media industry. This acquisition strategy fits into Artfest’s overall plan in becoming the gold standard for the art and memorabilia industry. Our goal is to acquire vertically integrated companies and service providers that will enhance our product and manufacturing capabilities, as well as increase an overall revenue and income.”
“We have targeted a host of acquisitions, including printing and manufacturing, that would combined bring additional $20,000,000 in revenues as well as strengthen our position as a ‘turn key’ product provider of memorabilia and art,” added Angie Tassan, CMO of Artfest International, Inc.
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