iBrands Closes Acquisition of Green Tree
IRVINE, CA / ACCESSWIRE / March 29, 2016 / iBrands Corporation Inc. (OTC:
IBRC) today announced that it has completed the acquisition of Green Tree Syndicate Inc. ("Green Tree"), a leading provider of E-Juice and vapor devices to the C Store industry. The acquisition complements iBrands' leading-edge product portfolio and enables a new channel for distribution in the high-volume C Store industry.
"Green Tree is now part of iBrands, and together we will make their next generation of vaping products not only better, but able to distribute them to a much broader market," said Michael Ogburn, iBrands CEO. Bashar Ballos, former CEO of Green Tree, will come on board as the National Sales Director. He has over 20 years in the C Store distribution market and has many relationships that iBrands weren't able to get before.
Ogburn went on to state, "This acquisition is the first of three companies we have under contract to purchase right now. Many look at the E-Cigarette market as a "has been" and that it's tired now. To an extent, this is true. Many e cigarettes that are in C Stores now are the same disposable devises that were in there five years ago. But because the E Cig industry is growing at 30% annually, we see this as a goldmine. Introducing our state of the art devices and E Juice will allow our distribution model be a "first to market" event. Consider that the average "Vaper" consumes $15-$30 per day in E Juice, swapping out the old disposable devices with new devices that require the separate juice, allows the user to enjoy a broader range, and a more enjoyable experience. Having it available in a C Store will also make the purchase much easier."
iBrands expects the acquisition to pay for itself in the first quarter of operation, and bring over $6 million in new revenue by the end of 2016.
About iBrands Corporation, Inc.:
Headquartered in Irvine, California, iBrands Corporation, Inc. engages in the manufacturing and distribution of Ultra-Premium Vapor and Beverage products. The company offers a wide variety of Vapor Products, E-Liquids and Natural Beverages that are made in the USA.
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