At a time when large corporations are buying up smaller ones in the
communications and technology sectors, a group of individuals have come
together to form a new company with a revolutionary idea. The name of the
company is Granite Golf Group, Inc. The idea is to manage, acquire and
develope high quality golf courses around the country and the world.
Granite Golf Group, Inc. (GGGI) is currently traded on the NASDAQ bulletin
board. GGGI is a fully integrated golf management company who's services
include management, acquisition, design and development of public and
private golf facilities both nationally and internationally. They have a
unique approach in that they have created an industry and management niche.
History
Through a predecessor company, Granite Golf was founded in 1995 by Elliot
Lewis, a venture capitalist from Toronto, Canada, who recognized the
opportunity to participate in the consolidation of the highly-fragmented
golf industry. Within eighteen months, the Company was operating five golf
properties through its acquisition of GT of Orlando in June of 1996. In
July of 1997 Granite Golf, through the assistance of a company controlled by
the Hunt family of Dallas, acquired the management division of Brassie Golf
Corporation. The Company continued its expansion throughout 1997 by teaming
with Golf Trust of America, Inc. (a Real Estate Investment Trust), wherein
the Company entered into agreements to lease and operate three golf
properties acquired by Golf Trust. In March 1998, Granite Golf added it's
sixth leased golf property.
Executive Summary
Granite Golf is one of the largest operators of golf facilities in the
United States. The Company, as of March '98, currently operates 28 golf
facilities in twelve States primarily in the Florida, Mid-Atlantic, and East
Coast golf markets. Granite is now expanding into the Midwest with recently
leased courses in Omaha, Nebraska and Louisburg, Kansas. A majority of the
clubs operated by Granite are high-end private or semi-private facilities.
Of the twenty-eight facilities operated, four are leased properties; three
are construction management projects; and the twenty-one courses are managed
properties. Granite's construction management division is supervising the
development of an 18-hole municipal course in San Antonio, Texas; an 18-hole
course in Tunica-Biloxi, Mississippi, and has just completed the
construction of a 36-hole facility in Somerville, New Jersey for Chubb
Insurance.
Mission Statement
Granite Golf is committed to exceeding the expectations of our customers,
employees, and business partners through value and service. We are
dedicated to creating a fun environment, delivering a consistent product,
while treating all with fairness and respect.
For more information, contact:
Granite Golf Group, Inc.
15170 North Hayden Road, Suite 106
Scottsdale, AZ 85260
Marney Edwards, President
(602)905-0978 ext 105 / (602)905-0979 Fax
email: marney@granitegolf.com / Internet: granitegolf.com |
