1847 Holdings LLC said on Wednesday that it had signed a definitive agreement to acquire a premier consumer products firm in the United States (the “Target”).
The acquisition is to be financed without the issuance of any common stock or dilutive equity, 1847 Holdings said.
The above mentioned company generated unaudited revenue of $20 million and positive EBITDA last year.
“We are excited to add this consumer products company, with its solid revenue, attractive margins and positive EBITDA, to our portfolio of cash flow positive companies. The Target is positioned to execute on several near-term, attractive growth opportunities, as well as operational enhancements that are expected to drive higher sales and margins. The Target also provides meaningful cross-selling and co-branding opportunities across our portfolio companies,” Ellery Roberts, Chief Executive Officer of 1847, said in a press release.
“Our agreement to acquire the Target without issuing any equity is a further illustration of our commitment to driving long-term shareholder returns. Moreover, as previously announced, we are advancing plans to restructure our outstanding convertible notes with current investors. These steps are expected to significantly enhance our capital structure,” the CEO added.
The acquisition is expected to be finalized before the end of the third quarter of this year.
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