On what date was the sale of C12 Atlanta, LLC executed and closed by the C12 Group?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
Effective January 31, 2023, C12 Atlanta, LLC was sold to a third party.
Subsequent events have been evaluated through March 15, 2023, which is the date the financial statements were available to be issued.
Prior to December 31, 2022, The Company entered into a Letter of Intent (LOI) to sell C12 Atlanta, LLC. The sell was executed and closed on January 31, 2023.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 C12 Group Franchise Disclosure Document, the sale of C12 Atlanta, LLC was executed and closed on January 31, 2023. Prior to this sale, C12 Atlanta, LLC was a franchisee of The C12 Group, and The C12 Group had acquired 100% ownership of it in March 2017, operating it as a wholly-owned subsidiary. The sale was made to a third party.
This information is relevant to potential franchisees as it provides insight into The C12 Group's business activities, including acquisitions and divestitures of its franchisees. Understanding such transactions can help a prospective franchisee assess the stability and strategic direction of The C12 Group.
Furthermore, the FDD also mentions that subsequent events were evaluated through March 15, 2023, which is the date the financial statements were available to be issued. This indicates that any significant events occurring after December 31, 2022, were considered up to this evaluation date, adding transparency to the financial reporting.