E-Core's subsidiaries, Tytan Products and New
England Technology, provide Upexi with entrance into the toy
category as well as national retail distribution for branded and
non- branded products
CLEARWATER, Fla., Nov. 2, 2022
/PRNewswire/ -- Upexi Inc. (NASDAQ: UPXI) (the "Company" or
"Upexi"), a multi-faceted brand owner and innovator in
aggregation, today announced the closing of its acquisition of
E-Core, Inc. ("E-Core") and its subsidiaries; Tytan Products
("Tytan") and New England Technology, Inc., ("New England
Technology"), for a combination of cash, stock and one-to-three
year notes. Tytan is a children's toy brand and maker of
popular magnetic tiles and building blocks and New England
Technology is a national distributor for branded consumer
products.
Allan Marshall, CEO of Upexi,
commented, "The diversified business of E-Core is very
complimentary to our brand acquisition and distribution business
model and E-Core and its subsidiaries fit perfectly with our model
of profitability and organic growth. In particular, Tytan has grown
100% over the past two years, with major retail distribution
through some of the largest retailers in America. We are excited to
enter another recession resistant category with compounding organic
growth and national distribution."
With over $40 million in trailing twelve-month sales,
E-Core provides Upexi with an entrance into the toy category as
well as national retail distribution for owned and non-owned
branded products. Tytan is a high-quality, eco-conscious toy
company that has grown 100% over the past two years. They are
continuously expanding their network of retail partners
with new, innovative offerings and their products are
currently available online through Walmart.com and SamsClub.com, as
well as in-store through leading retailers such as Walmart, Sam's
Club and BJ's Wholesale. New England Technology is one of the most
competitively priced distributors for name branded consumer
electronics in the industry with several innovative distribution
models specializing in e-commerce, business to business, and
business to consumer marketplaces.
Marshall continued, "We continue to focus on both growth and
profitability, with an internal goal of 40-50% organic growth and
the continued acquisition of profitable brands adding to
year-over-year top and bottom line growth. This acquisition expands
our ability to leverage direct-to-consumer distribution and the
broad distribution capabilities of E-core and its subsidiaries. We
look forward to capitalizing on the synergies between E-Core and
our current business to generate additional scale and growth."
About Upexi, Inc.
Upexi is a multifaceted brand owner with established brands in
the health, wellness, pet, beauty, and other growing markets. We
operate in emerging industries with high growth trends and look to
drive organic growth of our current brands. We focus on direct to
consumer and Amazon brands that are scalable and have anticipated,
high industry growth trends. Our goal is to continue to accumulate
consumer data and build out a significant customer database across
all industries we sell into. The growth of our current database has
been key to the year over year gains in sales and profits. To drive
additional growth, we have and will continue to acquire profitable
Amazon and eCommerce businesses that can scale quickly and reduce
costs through corporate synergies. We utilize our in-house, SaaS
programmatic ad technology to help achieve a lower cost per
acquisition and accumulate consumer data for increased
cross-selling between our growing portfolio of brands.
Forward Looking Statements:
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations, or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
business strategy, potential acquisitions, revenue guidance,
product development, integration, and synergies of acquiring
companies and personnel. These forward-looking statements are made
as of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations, and intentions contained in this press release
are reasonable, there can be no assurance that such beliefs, plans,
expectations, or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
Company Contact
Andrew Nortstrud
Chief Financial Officer
andrew.norstrud@upexi.com
Investor Relations Contact
KCSA Strategic
Communications
Valter Pinto or Jack Perkins
Email: Upexi@KCSA.com
Phone: (212) 896-1254
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SOURCE Upexi, Inc.