News Xfit Brands (XFTB) Acquires Enviroturf(R), One of the Leading Artificial Turf and Surface Companies
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Update Coverage
October 18, 2016
XFit Brands, Inc. (OTC QB: XFTB)
$0.12
We would like to bring to your attention the latest press release from XFit Brands, Inc.
Xfit Brands, Inc. Acquires Enviroturf, One of the Leading Artificial Turf and Surface Companies
Accesswire: October 18, 2016
- Provides the resources behind EnviroTurf to accelerate growth, and brings multiple new channels for turf and other surface product growth
- Leverages XFit Brands global sourcing and supply chain, and expands XFit Brands to new channels beyond supply to traditional fitness outlets
LAKE FOREST, CA / ACCESSWIRE / October 18, 2016 / XFit Brands, Inc. (XFTB), a global supplier of fitness and MMA equipment sold at retail and fitness outlets worldwide whose brands include Throwdown, Transformations, and GlideBoxx today announced that it has completed an asset purchase of Environmental Turf Services, LLC, one of the leading sports field, synthetic and artificial turf and surface companies in the world.
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EnviroTurf is recognized as one of leading suppliers in the United States for athletic field surfaces and is one of the preeminent quality providers of major sports playing fields worldwide. With global headquarters in Jackson, Mississippi, proud Southern roots and long-term dominance in SEC country, the company has installed over 100 fields in its young history. The Company's portfolio includes some of the most state of the art, highest quality, safest and environmentally friendly sports fields and surfaces available anywhere in the world.
XFit Brands, Inc., which currently provides functional fitness equipment to major fitness outlets throughout the United States and to more than 20 countries internationally, will not only provide the resources for EnviroTurf to expand across all sports and at all levels from professional to the collegiate ranks and high schools, but they will also augment the supply chain, sourcing, production and execution capabilities of EnviroTurf to facilitate their growth. Xfit Brands is a turnkey supplier to thousands of major gym outlets worldwide and does everything from design, to production, to installation for the outlets. Having surface capabilities now in its portfolio complements its broad line of functional fitness equipment, impact sports equipment, and accessories and furthers its one-stop-shop strategy.
Hal Mumme, former Head Coach at the University of Kentucky, SE Louisiana, New Mexico State, and presently Belhaven commented, "In my 30 years as a head coach I have played on every type of synthetic field and the EnviroTurf field is by far the best field surface I have ever played and trained on, bar none. I am excited for EnviroTurf's new partnership with XFit Brands. There are many products in the XFit Brand's portfolio that are immediately applicable to college level athletics and I look forward to implementing them into our training."
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Jim Bateman, owner of EnviroTurf commented, "We are excited to be part of the XFit Brands team and I am excited to be President of the Sports Division going forward. We have a pipeline of over $20,000,000 and we plan on fully leveraging XFit's infrastructure and operations capabilities to capture EnviroTurf's full potential. XFit's manufacturing network and supply chain will substantially reduce product and shipping costs while facilitating significantly increased sales to their venues around the world."
XFit Brands recently announced its annual financial results with its 4th consecutive year of double-digit revenue growth with an improvement in gross margin to 43.8% of net sales, an increase of 66% versus prior year. The Company has recently been selected as a preferred supplier to some of the largest gym chains in the world, and its international division now represents more than 40% of the total Company.
David Vautrin, Chief Executive Officer of XFit Brands, commented, "We are very pleased to have Jim Bateman join the team and to have EnviroTurf become an integral part of the XFit Brand's portfolio. Jim did a tremendous job with EnviroTurf with football, soccer, softball and baseball fields across the US and we intend to accelerate his success globally. Not only will we grow EnviroTurf, but we also see potential for the XFit Brands portfolio to penetrate the Professional, Collegiate, and High School ranks where EnviroTurf built its reputation."
About XFit Brands
XFit Brands, Inc., is one of the leading suppliers of functional fitness brands, products, and equipment sold at retail and fitness outlets worldwide. The company provides a full portfolio of functional fitness products, Mixed Martial Arts gear, and other high and low impact fitness regimes and owns the Throwdown trademarks registered in more than 30 countries for its Functional Fitness line and its MMA portfolio, Transformations in programming and training, the GlideBoxx sports training system, and now EnviroTurf Sports Training Surfaces. The company's portfolio of brands and products are sold in many countries around the world and supply many of the leading Gym and Fitness outlets throughout the United States. The Company's websites are www.XfitBrands.com, www.Throwdown.com, www.GlideBoxx.com, and www.EnviroTurfServices.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of XFit, including statements regarding XFit's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. XFit Brands competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission may affect the Company's operations. Unless required by applicable law, XFit undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries please contact:
Scott Cameron
investorRelations@xfitbrands.com
(949) 916-9680
Websites:
www.XFitBrands.com
www.Throwdown.com
www.GlideBoxx.com
SOURCE: XFit Brands, Inc.
You may also learn more about the company by visiting their website http://www.xfittraining.com/
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Chris Castaldo
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