Star8 Corporation Announces Exciting Corporate Changes Including Acquisition, New CEO, and Relocation of Headquarters

Rhea-AI Summary

Star8 recently announced significant corporate changes, including the acquisition of Impagliazzo Holdings Group, the appointment of a new CEO, and the relocation of its headquarters to Miami, Florida. The acquisition brings together companies with core investments in Real Estate, Hospitality, and Coffee Distribution, with Mr. Pino Impagliazzo taking the helm as the new CEO. The relocation to Miami is set to drive growth and innovation, with plans for expansion of Cafe Domino, a subsidiary focused on coffee roasting and distribution.

Positive

• Acquisition of Impagliazzo Holdings Group expands Star8 's portfolio and potential for growth.

• Appointment of Mr. Pino Impagliazzo as CEO brings in leadership with strong industry ties and experience.

• Relocation of headquarters to Miami, Florida, offers access to a vibrant business environment and logistical advantages for the company's expansion.

• Expansion of Cafe Domino into new markets like New York, New Jersey, and Connecticut presents opportunities for increased revenue and market presence.

Negative

• None.

MIAMI, May 8, 2024 /PRNewswire/ -- Star8 Corporation is pleased to announce a series of significant updates that mark a new chapter in the company's history. These developments include the acquisition of Impagliazzo Holdings Group, the appointment of a new CEO, and the relocation of its headquarters to Miami, Florida.

Acquisition and New Leadership
As of March 13, 2023, Star8 Corporation has successfully acquired Impagliazzo Holdings Group, a company with core investments in Real Estate, Hospitality, and Coffee Distribution. Concurrent with the acquisition, Mr. Pino Impagliazzo, a successful entrepreneur with deep family ties to the real estate and coffee industries, has been appointed as the new CEO of Star8 Corporation. Mr. Impagliazzo's extensive background and leadership are expected to drive significant growth and innovation within the company.

New Headquarters
In alignment with the new management vision, Star8 Corporation has moved its headquarters to Miami, Florida. This strategic move is aimed at leveraging the vibrant business environment and logistical advantages of Miami to fuel the company's growth and expansion strategies.

Expansion of Cafe Domino
Cafe Domino, a flagship subsidiary of Impagliazzo Holdings Group Inc and a renowned Florida-based coffee roaster, is poised for expansion. With the support of Star8, Cafe Domino will enhance its roasting operations and green coffee import business. As a major player in the Latino coffee market in Florida, Cafe Domino is set to begin distribution in New York, New Jersey, and Connecticut in the fourth quarter of 2024.

About Star8 Corporation
Star8 Corporation is a dynamic investment group with a diverse portfolio, including significant interests in real estate, hospitality, and coffee distribution. Star8 is committed to growing its network and continuing to provide exceptional value to its shareholders.

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SOURCE Star8 Corp

FAQ

When was the acquisition of Impagliazzo Holdings Group completed?

The acquisition of Impagliazzo Holdings Group was completed on March 13, 2023.

Who is the new CEO of Star8 ?

Mr. Pino Impagliazzo, a successful entrepreneur with ties to real estate and coffee industries, is the new CEO of Star8

Where is Star8 relocating its headquarters?

Star8 has relocated its headquarters to Miami, Florida.

Which markets will Cafe Domino, a subsidiary of Star8 , expand into in 2024?

Cafe Domino is set to begin distribution in New York, New Jersey, and Connecticut in the fourth quarter of 2024.