March 27, 2013
/PRNewswire/ -- Orpheum Property, Inc. (OTCQB: PLFF), a company specializing in the purchase, development, and management of commercial properties, today announced the acquisition of Coscina Brothers Coffee Company, LLC.
Orpheum Property, Inc.'s CEO,
, is pleased to announce the re-acquisition of
based Coscina Brothers Coffee Company, LLC (CBCC). In
, CBCC had been sold to a former director of the company who jointly worked with the CBCC's management in order to reorganize its focus and operations. These efforts have led to increased profitability and sales growth.
CBCC offers private labeling services on custom coffee roasts and pancake mixes for its customers. These customers include many
based retailers, hotels and restaurants. CBCC also boasts a large distribution chain in
and Thailand. CBCC is looking to add a third product line within the next two months, once additional product tests have concluded. CBCC's third product line is highly anticipated by distributors.
Tyrus C. Young
, CFO and Director of Orpheum, and a former part owner of CBCC, reported, "Gross Sales have grown from
in 2011, to
in 2012. For the first two months of 2013 Gross Sales have been
and are anticipated to surpass
in 2013. Net Income on those sales were
for 2012, and
for the two months ended
, 2013. We are projecting Net Income for 2013 in excess of
Mr. Young stated, "The addition of CBCC brings a more operational mix into Orpheum, to complement the real estate holdings the Company currently has, including the Orpheum Theater, a
commercial building, and several undeveloped properties in
and Arkansas. In addition to the purchase of CBCC, the Company is reviewing other product based entities that can take advantage of the distribution network built throughout the
In addition, Mr. Young stated, "Plans are in motion to officially change the name of our company from Orpheum Property, Inc. to Axiom Global Properties in order to more appropriately identify with our more diverse business model. This news of the acquisition of CBCC is the first of many exciting developments that will be coming from this early stage public company."