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ACORN REACHES AGREEMENT IN PRINCIPLE TO ACQUIRE AUTOMOTIVE RETAIL CENTERS IN THE SOUTHEAST U.S.

 POMPANO BEACH, Fla., Sept. 13 /PRNewswire/ -- Acorn Venture Capital Corporation (NASDAQ Small Cap: AVCC) announced today that it has reached an agreement in principle to acquire 27 full-service automotive retail centers located in the Southeast U.S. Stephen A. Ollendorff, president of Acorn, stated that this investment, if consummated, would expand Acorn's automotive retail market in light of Acorn's controlling interest in ServiceMax Tire and Auto Centers, which owns and operates 27 automotive retail centers in Michigan. The consummation is subject, of course, to the execution of mutually acceptable agreements.
 Acorn is a business development company whose stock is traded on the NASDAQ Small-Cap Market under the symbol AVCC. Acorn's primary objective is to obtain controlling interests in emerging companies.
 -0- 9/13/93
 /CONTACT: Stephen A. Ollendorff, president of Acorn Venture Capital Corporation, 212-481-9500/
 (AVCC)


CO: Acorn Venture Capital Corporation ST: Florida IN: REA AUT SU: TNM

CK-OS -- NY061 -- 1321 09/13/93 12:48 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
Words:157
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