La Rosa Holdings Corp LRHC acquired a controlling interest in the company’s franchisee - Horeb Kissimmee Realty, LLC, in Kissimmee, Florida.
Kissimmee generated revenue of $10.8 million and had a positive net income in 2022.
The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis.
CEO Joe La Rosa expects the acquisition, combined with the previous purchase of La Rosa Realty Lake Nona, Inc, to double its top-line revenue.
Roda mentioned several other pipeline investments and expects his top-line and bottom-line revenue to improve considerably.
He added how its agent-centric brokerage model enables the company to maintain a low fixed-cost business model with several recurring revenue streams, yielding relatively high margins and cash flow.
Price Action: LRHC shares closed higher by 7.66% at $2.53 on Wednesday.
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