ADPT Corporation (Other OTC: ADPT.PK) announced today that it has acquired The Show baseball program.
The Show is a leading provider of Major League Baseball Replica Apparel to youths across the U.S. The Show also owns and operates baseball tournaments across the U.S. with a primary focus on California, Texas, Oklahoma and Colorado.
Under the terms of the definitive transaction agreements, a subsidiary of ADPT will own 75% of The Show, LLC and John and Deborah Conner will own 25%.
“We are excited to be long-term partners with John and Debbie Conner. Their entrepreneurial spirit and commitment to a high level of service has allowed The Show to grow from a start-up in 2007 to a leading dealer of On The Field Majestic apparel in the U.S.,” said Warren Lichtenstein, Chairman of the Board of ADPT.“We believe The Show is an ideal platform to complement and grow our sports business,” said Dennis Mannion, advisor to ADPT. Baseball Heaven, a New York-based tournament and league site, was acquired by ADPT last month. “We are delighted to be a part of this new venture. We believe the capital, management, resources and infrastructure provided by ADPT will allow The Show to grow across the U.S. and enter other sports,” said John Conner. ADPT’s new business venture is dedicated to providing healthy, participatory lifestyle opportunities through sports and education programming and services. The scope of the venture is sports, training, education, entertainment and lifestyle. About ADPT Corporation The Company’s business consists primarily of capital redeployment and identification of new, profitable business operations in which it can utilize its existing working capital and maximize the use of the Company’s net operating losses. The identification of new business operations includes, but is not limited to, the youth sports business. More information is available at the Company’s new web site: www.adptco.com. Safe Harbor Statement
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