Pride Holdings Group (OTC: PHSE), a national leader in LGBTQ+ hospitality and entertainment, announced today the acquisition of Cheer Up Charlie's, Austin's top-ranked LGBTQ+ bar for the past 15 years. This acquisition represents a significant step in the company's national expansion strategy and underscores its commitment to building the leading network of LGBTQ+ entertainment destinations in the United States.
Cheer Up Charlie's, known for its vibrant community, inclusive atmosphere, and trendsetting nightlife, will now join the Pride Holdings portfolio of iconic LGBTQ+ brands. The bar has consistently held the #1 spot among Austin LGBTQ+ nightlife venues, making it a cornerstone of the city's cultural and entertainment scene.
Founders Tamara and Maggie will remain in leadership positions, ensuring a seamless transition while preserving the bar's authentic community-driven identity. "We are beyond excited to join the Pride Holdings family, and enter into this new chapter of our existence. Being a part of Pride will help us find the long-term stability and provide the financial backing we've always dreamed of," said Maggie Lea. "We are thrilled to have found a team like Pride Holdings that aligns with our mission, and we also can't wait to grow the brand all across Texas! With this transition, we will be able to strengthen our support for and to celebrate the diverse community of artists, nightlife performers, live musicians, and audiences that make Cheer Ups so special."
Pride Holdings plans to expand its footprint throughout Texas, with future openings in Dallas, Houston, and San Antonio projected within 24 months. "Cheer Up Charlie's isn't just a bar, it's a symbol of community, resilience, and celebration," said Mike Barrett, CEO of Pride Holdings Group. "We're honored to carry forward its incredible legacy while giving it the resources to grow and thrive. This acquisition reflects our commitment to preserving the soul of LGBTQ+ spaces while elevating them to new levels of visibility, impact, and profitability."
Pride Holdings Group (OTC: PHSE) is the premier LGBTQ+ hospitality and cultural rollup. Through the acquisition of high-value properties, launching tech-enabled membership platforms, and creating new revenue channels through agency services, Pride Holdings is setting the global standard for inclusive hospitality while delivering sustainable growth to shareholders. For more information, visit www.prideholdingsgroup.com.
