DENVER, Jan. 30, 2024 /PRNewswire/ -- NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) announces it has finalized its acquisition of Mad House Innovations, the first cornerstone in the company's focused strategy for becoming a worldwide player in the $381 Billion nutritional supplements market. The acquisition of Mad House Innovations continues a period of transparent updates that NxGen Brands has made and is designed to produce immediate revenues and give it a foothold in its target market.
"NxGen Brands is on a mission to become a leader in the nutritional supplements market," said Joseph Lawanson, industry veteran and CEO of NxGen Brands, Inc. "We have issued a number of updates to our shareholders and prospective investors to let them know that we have a strategy in place to become an integral part of what will soon be a half trillion-dollar market. Building a household brand that is associated with high quality products that effectively assist consumers with health and wellness is a major undertaking and one we are ready for in 2024 and beyond."
Lawanson highlighted the following important updates for shareholders:
NxGen Brands, Inc. successfully closes its "Mad House Innovations" acquisition. Mad House enjoyed explosive growth in 2023 posting $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships.
The Company announcing that its Storm Lifestyles (www.stormlifestyles.com) has released Storm Shrooms and its Mad House Innovations (www.madhousesupps.com) has slated an innovative new protein formulation for release March 1st. Both products are expected to deliver significant topline revenues in Q1 of 2024.
NxGen Brands, Inc. Releases Bullish Q1 Sales Forecasts for Mad House Supps with Estimated 105% Growth Year on Year, Stretching for $1.6M for 2024.
Announced that its acquisition target has closed a licensing deal with an Australian nutritional supplement manufacturer and distributor, allowing them to license the products and for the Company to receive significant royalties through 2024 and beyond with to retail throughout the fast-growing markets of both Australia and New Zealand.
Mad House Supps licensor has now produced its product in Australia under license and is ready to sell.
Lawanson promises more updates for shareholders and prospective investors alike stating, "this is just the beginning of our efforts as we take NxGen Brands to the next level. I have been clear with the team that transparency with shareholders is a crucial part of our strategy for success."
About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com https://twitter.com/NxGen_Brands
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