Friday , January 27, 2006 19:00 ET
ORLANDO, FL, Jan 27, 2006 (MARKET WIRE via COMTEX) -- Graystone Park Enterprises Inc. (OTC: GPKE) subsidiary IC Places, Inc. (www.icPlaces.com) announced today that it has signed a Letter of Intent to acquire GardenGrocer.com, of Orlando, Florida.
GardenGrocer.com is an online grocery store. The website offers visitors access to all of their grocery shopping needs without leaving home! Through its website www.GardenGrocer.com the company offers all of the name brands people use every day, including fresh meats, seafood, canned and packaged goods plus farm-fresh fruits and vegetables all available for delivery to the customer's doorstep!
GardenGrocer.com currently delivers in Florida's Lake, Orange and Seminole Counties. This includes Walt Disney World, Universal Studios Hotels, the cities of Kissimmee and the Disney built city of Celebration.
Upon acquisition IC Places will begin adding the GardenGrocer.com service to its 400 city based websites (www.icPlaces.com) one market at a time. The GardenGrocer.com services will be integrated into IC Places core offering as well as be directed to and from the IC Places websites.
"There is a great deal of synergy between our two companies," said Steven Samblis Chairman of IC Places, Inc. He went on to say, "The growing holiday trend has become Vacation Homes. When booking a family into a 3 bedroom Vacation Home with a full kitchen, one of the 1st questions asked is, 'Where is the closest Grocery store?' Now, with GardenGrocer.com we can deliver all the family's needs the morning they arrive."
Brian Coleman, founder of GardenGrocer.com said, "We see the merger as an incredible opportunity for both companies as well as for the consumer. For the family, the service saves time and money, for IC Places it allows them to offer better service and tap into an additional revenue stream not previously available and for GradenGrocer.com, it offers us unlimited access to an entirely new group of clientele."
