American Rebel Holdings to Acquire Champion Safe Company
Acquisition To Add Approximately $20 Million in Revenues to American Rebel
Nashville, TN, July 07, 2022 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) – America’s Patriotic Brand (the “Company”) today announced it has entered into an agreement to acquire Utah-based Champion Safe Company, and its ancillary companies (collectively, “Champion”). Champion is a leading manufacturer of gun safes with an industry wide reputation for security, fire protection, quality of finish and workmanship. The transaction is valued at approximately $9.9 million and is expected to add more than $20 million in revenues to American Rebel and be accretive to net income.
Andy Ross, Chief Executive Officer of American Rebel, commented, “We are excited to bring the Champion name into the American Rebel family. Founded in 1999 by Ray Crosby, Champion has three safe lines; Champion Safe, Superior Safe and Safe Guard Security Products; which feature some of the most secure and highest quality gun safes. We believe the companies are a natural fit and their synergies will help us grow the brands. For example, Champion factories already manufacture American Rebel safes. The addition of Champion’s dealers will be a great benefit to American Rebel. Champion has a clean balance sheet and a solid backlog of orders already, so we’re ready to move almost immediately. We’re looking forward to growing together.”
Doug Grau, President of American Rebel Holdings, added, “Ray Crosby is a foundational figure in the safe business and Champion Safe is the culmination of his 40 years in the safe business. We are proud to continue his legacy. Our combination will allow for expanded manufacturing to fill a significant backlog of orders and will allow for the development of new dealer accounts. Champion’s sizeable existing dealer base, nationwide distribution and seniority with buying groups and trade shows should have an immediate impact on American Rebel. The American Rebel team is very eager to work with Ray and his team and move the company forward.”
The acquisition is expected to close on or before August 31, 2022, and is subject to customary approvals, the obtaining of financing and other closing conditions.
About American Rebel Holdings, Inc.
American Rebel operates primarily as a designer and marketer of branded safes and personal security and self-defense products. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com. For investor information, visit www.americanrebel.com/investor-relations.
