$TLIF makes strategic acquisition of Be Climbing Inc, a growing real estate and indoor rock climbing sports complex developer
Winter Park, FL -- March 3, 2023 -- InvestorsHub NewsWire -- TOCCA Life Holdings, Inc. (OTC: TLIF) ("TLIF" or the "Company") announced today that the Company recently acquired Be Climbing Inc. of Winter Park, FL. Be Climbing recently announced that the Company will be opening its first world-class indoor rock climbing gym just outside downtown Orlando, FL on a 7.02 acre property it acquired in the ever expanding city of Apopka, FL.
The indoor rock climbing industry is exploding with growth after the sport made its first debut in the 2020 Tokyo Olympic Games, which took place in 2021 due to the pandemic. Rock Climbing has now officially been added as an Olympic sport and will be part of the program in both the upcoming Paris 2024 and Los Angeles 2028 Olympic Games.
By way of comparison, Top Golf launched its first location by tracking golf balls and grew to become an international sports entertainment company. Be Climbing with development of its first location is focused on drawing inspiration from the Top Golf business model with a focus on the family oriented fun and family-focused activities centered around the indoor rock climbing sport and entertainment industry.
Top Golf was acquired in 2021 for $2.6 billion by Callaway which has rebranded the company under the name Topgolf Callaway Brands Corp. (NYSE: MODG). In much the same way that Callaway's strategy is to make golf accessible to a broader population that might otherwise not have the time, money, or access to traditional golf; Be Climbing seeks to make the sport of rock climbing accessible to a broader audience with indoor rock climbing facilities. The sport of outdoor rock climbing became very famous to a broader audience in recent years with the release of such movies as Free Solo, The Dawn Wall and Meru.
Be Climbing is well underway in the development process of the highly desirable 7 acre Apopka, FL location, having acquired the property in March 2022. The Company presently is in the site plan review and approval process with the required city and county governmental agencies. The Company's Apopka, FL project was recently featured Central Florida's Growth Spotter publication.
Stephen Carnes, President and CEO of TLIF, stated, "I am very pleased with today's announcement and to bring Be Climbing Inc. public through TOCCA Life's acquisition. I launched Be Climbing Inc. as a private company in 2021 in order to lay the groundwork and get much of the long drawn out processes in place and completed prior to bringing the company public. The months ahead will be very exciting, and I am happy to now have Be Climbing public through TLIF."
Carnes continued, "Be Climbing has already raised nearly $3 million in private transactions and owns outright the 7 acre property in Apopka. The Company additionally owns, free and clear without mortgage, two locally located income producing rental properties, so the Company has both revenues and assets. We will be seeking to have the Shell Status designation removed given today's announcement of the Be Climbing acquisition. I look forward to providing additional details about Be Climbing in the near future."
Follow TOCCA Life Holdings, Inc. on Twitter at: @Tocca_Life
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