Life On Earth, Inc. Closes Acquisition of “The Giant Beverage Company, Inc.”Press Release | 04/30/2018
NEW YORK, April 30, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Life On Earth, Inc. (OTCQB:LFER) (the “Company” or “Life on Earth”), a brand accelerator company in the healthier and functional beverage and snack industry announced today that it has closed the acquisition of The Giant Beverage Company, Inc. (Giant). The Company expects the acquisition to increase its revenues by over 100% on an annual basis and be EBITDA accretive within a quarter thereafter. Life On Earth’s portfolio in the alternative and functional beverage category will now benefit from the Company’s own Direct Store Delivery (“DSD”) systems in California (Northern CA) and New York (New York City and Metropolitan Region).
“This acquisition marks a significant milestone in our Company’s history and it’s the third acquisition we have closed in the past 18 months," said Chairman and Chief Executive Officer, Mr. Fernando Oswaldo Leonzo. “During this period, we have grown from $200,000 in annual revenues to over $7 Million with plans for meaningful organic growth, as we consolidate overlapping infrastructure, add additional brands and leverage each brands’ already established relationships. As with our previous acquisitions, this transaction further supports our strategic initiative by adding scale in key markets by introducing new capabilities while enhancing our ability to grow our proprietary business with new and existing clients. We are confident that we have the right people, products and infrastructure to drive meaningful top and bottom line growth, as we strive to position the company for an up-listing, to a primary exchange, in our next fiscal year (‘19) which begins on June 1st 2018,” he continued.
“On an operational level, we can now receive shipments of our Victoria’s Kitchen brand and its related SKUs, that we have been developing,” said John Romagosa, Life On Earth’s President. “We are also expanding distribution of our GRAN NEVADAÔ products in New York City, as we improve our current portfolio with better quality and healthier alternatives, including our exclusive brands such as Hemp2OÔ and other potential brand acquisitions. Our industries’ best seasons for forward growth are upon us and we are now strategically positioned to expand revenue and cash flow. The timing of these recent transactions is optimal, allowing for Life On Earth to double (or triple) the size and scale of our operations,” he continued.
The Company has filed a Form 8-K with the US Securities Exchange Commission (“SEC”) in conjunction with this press release and readers can view the full filing on the SEC website or the Company’s Investor Relations section of LFER’s website. Visit: www.lifeonearthinc.com
