Of course it gets excluded this is not news. ICNB is not a distribution company, we own the actual brands/products.
United does all the work to get the product from cradle to grave, which ICNB pays for.
Including United in our financials is more a transparency play that allows investors to see what is being spent there by ICNB.
United never was and one would hope never will be merged in ICNB because we cover different parts of the industry. I have no interest in owning a part of a company that is working on such low margins and stiff competition.
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