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Antique Tobacco Barn Builds on Heritage of Success

ASHEVILLE, NC, March, 2006 - The Antique Tobacco Barn is located in the heart of Asheville's antique district, and is nationally recognized as one of the premier antique malls in the Southeast, thanks in part to national publicity in Southern Living magazine, the Discovery Channel, and Budget Travel. The mall is a haven for customers far and wide, who come searching for its furniture, architectural salvage, collectibles, and accessories.

Nearly 75 independent antique dealers enjoy relatively inexpensive access to high customer traffic, leasing space on a monthly basis. The mall provides retailing support for the facility by managing operating and advertising costs. With its loyal family of dealers, unsurpassed customer awareness, and consistent financial performance, the Antique Tobacco Barn was the perfect investment opportunity...and an ideal business model for a joint partnership.

Enter Coleman Smith and John Pomeroy, business partners originally looking for a real estate venture when New South matched them with Antique Tobacco Barn founders James and Joan Ramsey.

The mall's 5.4 acres of real estate were a real draw according to Pomeroy. It's attractive operation sealed the deal. "Restored preservation is the ultimate recycling," he says. "And we didn't have to become experts in antiques to operate the business - the dealers do that. We're happy being a venue for 73 small businesses. Relationships with the dealers have been key to the mall's success; they're like family."

New South Business Ventures matched the parties for a completed sale on March 8, 2006. The Ramsey's, who had built the business from its early days, are happily in retirement. Meanwhile, Pomeroy and Smith are eagerly taking on their new adventure.

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