Dreams, Inc., parent company of Mounted Memories, Field of Dreams stores and other sports companies, is getting a major stockholder in Dr. Phillip Frost.
Dreams, Inc.has announced that Dr. Phillip Frost, through the Frost Group, LLC, has purchased 14.7% of the Company’s outstanding stock. Frost, one of Florida’s foremost business leaders and innovators, has been the Chairman of Key Pharmaceuticals, Inc., and the founder, Chairman and CEO of IVAX Corporation — two of Florida’s most successful pharmaceutical companies.
Frost is currently Co-Vice Chairman of the American Stock Exchange and has recently become the Chairman of Ladenburg Thalmann, one of the United States’ and Europe’s oldest full service investment banking and brokerage firms.
Ross Tannenbaum, Dreams, Inc. President and Chief Executive Officer, said, "We are flattered by Dr. Frost’s confidence in our business model."
"The sports industry is one of the largest and fastest growing industries in the United States," Frost said in a company news release. "Dreams Inc.’s management skills and reputation for integrity provide it with an advantaged position in the highly fragmented, but profitable market for licensed sports merchandise. The company’s objective to achieve a dominant market share over the next few years through internal growth and acquisitions seems very obtainable."
Dreams, Inc. is a vertically integrated sports memorabilia and licensed products firm. It is the public holding company of several operating divisions with some of the strongest and most recognized brands in the field. They include Mounted Memories, Field of Dreams, FansEdge, ProSportsMemorabilia.com, The Greene organization and Malcolm Farley Art.
Mounted Memories, its wholesale division, produces authentic sports and celebrity autographed memorabilia and collectibles. Mounted Memories conducts autograph events at collectible shows and was recently hired by the Pro Football Hall of Fame to operate it’s autograph pavilion during induction weekend.
Field of Dreams, its exclusively licensed franchise system, has retail stores located in 29 shopping malls across the country, ten of which are company-owned through Dreams Retail Corporation.
FansEdge.com and ProSportsMemorabilia.com are the providers of licensed sports products and autographed memorabilia via the internet.