Contact Information: Investor Relations Contact: Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 E-mail: Email Contact
Providential Holdings Signs Agreement to Take Baby G, Inc. Public
| Source: Providential Holdings, Inc.
LOS ANGELES, CA -- (MARKET WIRE) -- March 1, 2007 -- Providential Holdings, Inc. (OTCBB : PRVH )
(German Stock Exchanges: PR7, WKN 935160), a company providing
international advisory services specializing in mergers and acquisitions
and investing in the rapidly growing economies in Vietnam and Asia,
announced today a definitive agreement to arrange for initial funding and
take New York-based Baby G, Inc. public in the United States. In exchange
for its services Providential Holdings will receive stock in the company.
Baby G's management projects revenue of $25 million for 2007 and $35
million for 2008.
Baby G, Inc. and its wholly owned subsidiaries design, develop, manufacture
and market consumer products for the apparel industry worldwide. Baby G's
business model includes private label manufacturing and branded fashion
collections throughout the United States. With an established network of
high profile celebrities and sports icons, Baby G intends to secure
additional licensing agreements to enhance the branded fashion division,
which is projected to represent 35% of gross revenues in 2007. Baby G has
secured licensing rights to produce premium golf collections and moderately
priced sportswear with all-time NFL PRO linebacker, Lawrence Taylor.
As an outsourcing pioneer, Baby G has capitalized on its ability to provide
their customers with cost efficient products, expanding its manufacturing
base worldwide, including China, Vietnam, Egypt, Malaysia, Cambodia,
Bangladesh and Turkey.
At the core of its operation, Baby G continues to provide full packaging
services, which includes sewing, embroidery, trimming, laundering and
packaging, to private label customers, among them include domestic
manufacturers and retailers such as Kohl's and Wal-Mart. In 2007, private
labeling manufacturing is projected to represent 65% of gross revenues.
Baby G's Founder and CEO Jeff Gerson said, "With the help of Providential
Holdings we will be able to increase our celebrity branded fashion lines
and service more private label customers. Our company has been building a
reputation in the apparel industry since 1997 and is poised and ready to
move on to the next level and we are excited that Providential will be
helping us do it."
Providential Chairman and CEO Henry Fahman said, "The access to capital
funding for further growth will provide Baby G. with the means to continue
their expansion in celebrity branding and packaging services for private
labels, while offering investors an excellent opportunity to participate in
a growing industry."
About Baby G, Inc.
Baby G and its wholly owned subsidiaries design, develop, manufacture, and
market consumer products for the apparel industry worldwide. The company
began private label business manufacturing in 1997, quickly rising into a
multi-million dollar business before it began establishing its own identity
through its celebrity name brand lines. Baby G's business model includes
private label manufacturing and branded fashion collections throughout the
United States. Through its established network of high profile celebrities
and sports icons, Baby G intends to secure additional licensing agreements
to enhance its branded fashion division, providing moderately priced
clothing lines to consumers. At the core of its operation, Baby G continues
to provide full packaging services, which includes sewing, embroidery,
trimming, laundering and packaging, to private label customers, among them
are domestic manufacturers and retailers such as Kohl's and Wal-Mart. For
more information on Baby G, Inc. and its subsidiaries, call Michele Latas
at (212) 695-8388 or e-mail mlatas@babyg-us.com.
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse
business activities, the most important of which are M&A advisory services
and independent energy. The company acquires and consolidates special
opportunities in selective high-growth industries to create additional
value, acts as an incubator for emerging companies and technologies, and
provides financial consultancy and M&A advisory services to U.S. and
foreign companies. For more information on Providential Holdings and its
subsidiaries, visit http://www.phiglobal.com. As part of its activities in
Vietnam, Providential has been hosting seminars in conjunction with the
Nasdaq Stock Market, the Vietnamese Chamber of Commerce and Industry and a
leading U.S. investment-banking firm to help Vietnamese companies go public
and raise capital through the U.S. financial markets.
A profile for investors can be accessed at
http://www.hawkassociates.com/prvhprofile.aspx.
For investor relations questions regarding Providential, contact Frank
Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail:
info@hawkassociates.com, or visit http://www.americanmicrocaps.com or
http://www.hawkassociates.com
Safe Harbor: This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and information
currently available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.