EXCLUSIVE: La Rosa Acquires Third Real Estate Brokerage Franchisee
Portfolio Pulse from Vandana Singh
La Rosa Holdings Corp (NASDAQ:LRHC) has acquired La Rosa Realty CW Properties, a franchisee in Longwood, Florida. CW Properties reported $3.4 million in revenue and positive net income for 2022. The franchisee offers real estate brokerage and agent support services. CEO Joe La Rosa aims to acquire 9 more franchisees in the next 6-8 months and reach a $100 million annual revenue run rate by the end of 2024. La Rosa Holdings Corp's shares rose 9.33% to $1.64 in premarket trading.
December 15, 2023 | 1:45 pm
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La Rosa Holdings Corp acquired its franchisee, La Rosa Realty CW Properties, with plans to acquire more and reach a $100 million revenue run rate by 2024. Shares are up 9.33% premarket.
The acquisition of CW Properties is likely to be viewed positively by investors as it indicates growth and expansion. The company's clear strategy to acquire additional franchisees and reach a significant revenue run rate by 2024 may boost investor confidence. The premarket stock price increase of 9.33% reflects positive market sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100