Regional Brands Inc. (OTCPK:RGBD) entered into membership and participation interest agreement to acquire 23.83% stake in B.R. Johnson, Inc. from Lorraine Capital LLC for $1.6 million on February 6, 2020. The consideration will be paid in cash. Upon completion, B.R. Johnson, Inc. will be wholly owned by Regional Brands Inc. (OTCPK:RGBD). Regional Brands Inc. (OTCPK:RGBD) completed the acquisition of 23.83% stake in B.R. Johnson, Inc. from Lorraine Capital LLC in February 2020.