Holbrook's Med Gen Inc. Inks Deal Giving Subsidiary Right to Resell Franchises

Holbrook's Med Gen, Inc. this week announced a deal that gives it's wholly owned subsidiary, NorthStar Business and Property Brokers, Inc., the right to resell over $30,000,000 in established franchise businesses.

According to the deal, NorthStar will list a database of pre-existing franchise businesses in its national database, which is accessed by the company's brokers, and advertise them on its web properties to match potential buyers with the business sellers.

As with all of NorthStar's listing, the company earns a 10-12-pecent commission when the business is sold, a statement said. Some of the franchises included in this deal are Fast Frames, Molly Maids, Handyman, and many more representing millions of dollars in commissions to the firm.

"In order to be an unstoppable force in this business, you need inventory," said Raymond Barton, CEO of Med Gen and NorthStar, in a statement. "This deal gives us overnight what would take an army of broker's many years to accomplish. Part of our overall strategy is to continue consolidating the nations businesses for sale under one roof thereby taking our place as leader of this industry."

Med Gen Inc. went public in 1997 and distributed health related products. Business wound down in 2008 but was recently revived earlier this year through its wholly owned subsidiary, NorthStar Business and Property Brokers, Inc., a private company engaged primarily in business brokering.