Historic Detroit Clubs Explore Merger

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DETROIT, Oct. 26, 2009 /PRNewswire-USNewswire/ – The Detroit Athletic Club and Forest Lake Country Club signed a non-binding letter of intent on Wednesday, Oct. 21, 2009, that sets the stage for a possible merger of the two historic organizations.

The purpose of the proposed merger is to maximize members’ experience and value by providing the highest quality service, beautiful facilities, and membership in what will be the finest club in Michigan at its two prime locations.

Combining the Detroit Athletic Club and Forest Lake Country Club offers several important economic and cultural enhancements to the Detroit region including: 1) increasing the overall value of membership in these prestigious clubs; 2) setting a new standard for how clubs do business, not only here but across the country; and 3) advancing club culture as a valued and uplifting center for community leadership.

The letter of intent begins the process of an in-depth due diligence of each club that is required to make an informed recommendation to the memberships of both organizations. Following the due diligence period, recommendations to each respective club board will be made regarding the proposed transaction.

Any future combination of the two organizations is subject to approval by each club’s board and requires a vote of each membership.

Founded in 1887 by amateur athletes, the Detroit Athletic Club moved to its beautiful downtown clubhouse (designed by famed architect Albert Kahn) in 1915 and has since become the region’s premier social, business and athletic club. This year the DAC was again recognized as one of the top two Platinum Clubs in the country and the number one club in Michigan. It has also been recognized for its quality management efforts with the prestigious Michigan Quality Council’s Leadership Award.

Detroit industrialist Edwin S. George originally founded Forest Lake Country Club, located in Bloomfield Hills, in 1926. Besides an Albert Kahn designed clubhouse, FLCC today offers excellent dining, golf, swimming, tennis and lake activities overlooking Forest Lake. The William Diddel designed golf course is known for its beauty.

“This is an important step that can truly enrich the great traditions and value of our venerable institutions,” said DAC President Richard A. Brodie. “Forest Lake is an outstanding organization with a vision similar to the DAC’s. We are very excited about what a merger would mean for the Detroit community and look forward to this unique opportunity.”

“FLCC has been looking for opportunities to improve our overall members’ experience and to provide the best value to our members,” said FLCC President Paul Hittler. “We view the DAC as a premier organization whose culture nicely aligns with Forest Lake’s. We are excited to hear what our members’ response to this opportunity will be.”

CONTACT: Ted Gillary, Executive Manager, Detroit Athletic Club: (313) 442-1014

Source: Detroit Athletic Club

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