Business
EMERGE Announces Cost Optimization and Synergies Initiative with $1M Annual Savings Expected
EMERGE Announces Cost Optimization and Synergies Initiative with $1M Annual Savings Expec...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Announces Cost Optimization and Synergies Initiative with $1M Annual Savings Expected\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 17, 2022\n \n \n /CNW/ -\n \n EMERGE Commerce Ltd\n \n \n .\n \n (TSXV: ECOM) (\"\n \n EMERGE\n \n \" or the \"\n \n Company\n \n \"), a diversified acquirer and operator of niche e-commerce brands, today announced that it has implemented a comprehensive cost optimization and synergies initiative in an effort to  enhance cash flow generation.\n \n \n The Company anticipates this initiative will result in EMERGE realizing approximately\n \n $1 million\n \n in annualized savings, and expects to begin seeing results from some of these measures starting Q4 2022.\n \n \n \"Having acquired multiple brands last year, there are a number of savings and synergies that the team has been implementing recently, with more planned in the coming months,\" said Ghassan Halazon, CEO of EMERGE.\n \n \n As part of overall efforts to drive additional cash flow, the initiative includes reducing overhead expenses, improving margins, maximizing cross-functional synergies amongst EMERGE HQ and portfolio brands, eliminating unprofitable revenue streams, and cutting longer term initiatives that don't meet acceptable Return on Investment thresholds.\n \n \n \"Given the macro climate, the Company's first and foremost priority for the balance of 2022, and heading into 2023, is to optimize the business for cash flow generation, and we believe these savings represent a meaningful step in the right direction,\" continued Halazon.\n \n \n \n About EMERGE\n \n \n \n EMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses various online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.co, WagJag...