NEW YORK, March 7, 2011 (GLOBE NEWSWIRE) -- Legacy Wine & Spirits International Ltd. (Pink Sheets:LWSP), an importer, wholesaler and retailer of fine wines in China announced today that it has entered into an exclusive agreement with Paul Stewart, President of Franchise Associates (FA), to market the Legacy Wine Merchants Retail Franchises in the United States. FA has generated over $500 million in revenues in the last 12 years for their clients. FA has an impressive track record and if Legacy experiences a fraction of their success with other clients they will become a powerhouse like Merry Maids®, which sold for $25 Million or Manhattan Bagel Company® which went public for $55 Million. FA has also generated success for household names like FastSigns® ($100 Million) and Jiffy Lube® ($56 Million). The terms of the agreement were not disclosed www.legacywineandspirits.com
"We are proud that Legacy Wine and Spirits has selected us to be their partner in the United States. Legacy will benefit from Franchise Associates' (FA) over 33 years of experience in building over 300 franchise systems. We anticipate that Legacy can grow exponentially with our services and guidance," said Paul Stewart, President of FA.
"We are pleased to have Franchise Associates as our franchising partner, given their national marketing reputation, their concept branding, and the successful track record they have established in marketing and launching franchises both regionally and nationally," said Jaclyn Cruz, President of Legacy Wine and Spirits. "This agreement enables us to expand our innovative concept development and to continue to build the Legacy brand into the United States."
About Franchise Associates, Inc. (FA)
FA has assisted over 300 companies with their franchise expansion plans over the past 33 years. More recently, in the past 12 years, FA has helped its clients generate over $500 Million in franchising revenues. Mr. Stewart has also been a consultant to the U.S. Small Business Administration (SBA) for over 28 years. FA specializes in franchise consulting, packaging, marketing and finance in the U.S.A. and internationally.
Several of FA's past franchise clients have generated hundreds of millions in revenues, including: Merry Maids® Home Cleaning that sold for $25 Million; FastSigns® that sold for $100 Million; Manhattan Bagel Company® that went public for $55 Million; Express Lube & Oil® that sold to Jiffy Lube® for $56 Million; and Remco® Appliance Rentals that sold for $47 Million.
About Legacy Wine and Spirits International Ltd:
Legacy Wine and Spirits International Ltd. (Legacy) is a publicly listed fully reporting company trading in the United States (Pink Sheets:LWSP). The Company is in the business of importing bottled wines from around the world for the purpose of wholesale and retail distribution throughout China, in particular through the Company's corporately owned stylish outlet showroom and wine tasting facility.
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The Legacy Wine and Spirits International Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8328
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Legacy's filings with the Securities & Exchange Commission.
CONTACT: Jaclyn Cruz, President 1-888-488-6882