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Dreams, Inc. (DRJ) Adds University of Texas Athletics to Syndication Portfolio

PLANTATION, Fla.–(BUSINESS WIRE)–Dreams, Inc. (NYSE Amex: DRJ), a vertically integrated leader in the licensed sports products industry, announced that it has signed a letter of intent to acquire Collegiate Marketing Services (CMS) of Overland Park, Kan. CMS has since 2005 managed the retail, game day and online merchandise operations for The University of Texas Athletics program. Terms of the deal were not disclosed. The acquisition, when completed, will include the management of Longhorns, LTD retail operations at Darrell K Royal-Texas Memorial Stadium and other UT sports venues, as well as the official online store Dreams is launching the new official Longhorns store on its propriety ecommerce platform.

“The acquisition of CMS brings one of the nation’s most respected and largest college programs into our syndication portfolio,” stated Kevin Bates, President of Dreams Retail, a division of Dreams, Inc. “We are fully committed to the Longhorns brand and will work relentlessly to grow their business, enhance their customer experience, and represent Texas as the premier college in the country.”

Bates added, “This acquisition also marks our entrance into game day stadium operations, thus opening a whole new channel of business for us. Over the past few years, we have been strategically populating our roster with many game day stadium operations experts. We now have an experienced management staff with more than 80 years of collective experience running stadium operations, satellite stores and other team retail events for more than 20 different professional teams and colleges. This will allow us to deliver a comprehensive retail solution to current and prospective clients that are looking for a provider who excels both at e-commerce and in-stadium operations and merchandising.”

Steve Ballard, CEO of CMS stated, “Dreams’ acquisition of CMS will be a big win for both companies. The strength of CMS’s game day and retail management will now be merged with the top online merchandise platform in the business. The ability to maximize sales across all channels of business for our clients is exciting. We are thrilled to be joining such a successful and fast growing organization.”

Dreams anticipates a closing within 30 days, which is subject to execution of definitive documents, Board of Directors and Bank approvals.

DREAMS, INC. trades under the ticker symbol: NYSE Amex: DRJ

Statements contained in this press release, which are not historical facts, are forward looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements are indicated by words or phrases such as “anticipates,” “projects,” “management believes,” “Dreams believes,” “intends,” “expects,” and similar words or phrases. Such factors include, among others, the following: competition; seasonality; success of operating initiatives; new product development and introduction schedules; acceptance of new product offerings; franchise sales; advertising and promotional efforts; adverse publicity; expansion of the franchise chain; availability, locations and terms of sites for franchise development; changes in business strategy or development plans; availability and terms of capital including the continuing availability of our credit facility with Regions Bank or a similar facility with another financial institution; labor and employee benefit costs; changes in government regulations; and other factors particular to the Company.

Wednesday, July 28th, 2010 Uncategorized
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