Bergio International Announces Acquisition Of Global Online Jewelry Retailer, Aphrodites
7:34 AM ET 2/18/21 | Dow Jones
Transaction Immediately Increases Company's Projected 2021 Revenues By Over 16.5 Times Its 2019 Revenues Of Approximately $600 Thousand; Transaction Compensation Was In Stock & Cash.
FAIRFIELD, NJ / ACCESSWIRE / February 18, 2021 / Bergio International, Inc. ("Bergio," or the "Company") (OTC PINK:BRGO), a leading designer, manufacturer, and retail outlet for the Bergio Brand of designer jewelry, including exquisite proprietary collections of rings, necklaces, earrings, and other fine accessories today announced that it has acquired all the assets and liabilities of Aphrodite's, from Digital Age Business, Inc., (the "Seller"). Aphrodite's had revenues in excess of $10 million in 2020.
Digital Age Business is a cutting edge, internationally known and proven Digital & Advertising Agency with a team that has provided services and advice to high-end clients, such as Audi, Cisco, Coca-Cola, Cheetos, and Maserati, with branding, marketing, web applications, mobile applications and consulting & trend analysis services. Digital Age Business now launches and invests in exciting companies in technology & eCommerce. They are known for their forward & dynamic approach to digital-based business concepts.
Aphrodite's was a premier company from the Digital Age Business portfolio that grew to over $31 million dollars in revenue in 4 years from its inception at the end of 2016. An audit is being conducted as part of the acquisition to fully include Aphrodite's financials with Bergio's.
Jonathan Foltz, CEO of Digital Age Business, said: "The vision of Aphrodite's was to leave a considerable footprint in the women's lifestyle industry with something new and exciting around the globe. We have grown incredibly fast without a single outside equity investor, and I believe it is time for us now to get to the next level. We most definitely cannot do this alone.
With the support from Berge Abajian, an incredible business mind and 3rd generation jeweler, we are adding important components to the business of jewelry & accessories, including Bergio's connections to factories and manufacturing and operational skill sets that are needed. I am seeing incredible synergies between the two companies that will highly benefit from each other's collaboration."
Berge Abajian, CEO of Bergio International, Inc., stated, "We have always intended to expand the Company's retail brick-and-mortar presence across the globe, but with the technological platform and personnel's expertise we have acquired in this transaction, we can now also immediately become a direct to consumer 'player' in the global internet jewelry market.
For the past few years, we have been getting ready to become active in the acquisition of additional footprints globally, and we feel that the acquisition of Aphrodite's will make us even more attractive to target companies because we now have, in-house, an enviable synergistic team composed of Bergio's traditional know-how merged with the 'young Turk' entrepreneurs' knowledge and specific expertise in the technological aspects and marketing ability in the online global marketplace. The ability to potentially increase a target's revenues with our worldwide presence and technological know-how should be extremely attractive to potential acquisition partners...plus the ability to have access to financial resources for growth and to be part of a publicly-traded company with ownership equity will make a lot of sense to a multitude of companies."
