La Rosa Acquires 51% Interest In Co's Tenth Real Estate Brokerage Franchisee With Revenue Of $4.7M And Positive Net Income In 2023; Reaffirms Target Anticipated To Generate $100M Of Annualized Revenue As A 2024 Exit Run Rate
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La Rosa Holdings Corp. (NASDAQ: LRHC) has acquired a 51% interest in its franchisee, La Rosa Realty Prestige, which generated $4.7M in revenue and positive net income in 2023. This acquisition is part of La Rosa's strategy to enhance its market position and operational efficiencies, aiming for a $100M annualized revenue run rate by 2024 and profitability by 2025. Prestige ranks second in agent count and third in real estate sales in Polk County, Florida.
April 25, 2024 | 12:45 pm
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La Rosa Holdings Corp. acquires 51% in La Rosa Realty Prestige, aiming for $100M revenue by 2024 and profitability by 2025.
The acquisition of a majority stake in a profitable franchisee like La Rosa Realty Prestige is a significant positive development for La Rosa Holdings Corp. It not only boosts the company's revenue but also strengthens its market position in Florida. The strategic move aligns with La Rosa's growth strategy and its goal to reach a $100M annualized revenue run rate by 2024, which could positively impact investor sentiment and the stock price in the short term.
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