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EMERGE Completes Acquisition of Tee 2 Green, Amends Credit Facility, Adds Up to 24-Month Term
EMERGE Completes Acquisition of Tee 2 Green, Amends Credit Facility, Adds Up to 24-Month Term ...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n\n\n\n EMERGE Completes Acquisition of Tee 2 Green, Amends Credit Facility, Adds Up to 24-Month Term\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 Acquisition expected to bring EMERGE to cash flow positive\n \n\n\n\n Tee 2 Green Ltd.\n \n (\"T2G\")\n \n generated\n \n revenue of\n \n $6.4M\n \n , Adjusted EBITDA\n \n\n\n (1)\n \n\n\n of\n \n $1M\n \n ,\n \n and\n \n net income of\n \n $700K\n \n\n in 2024 (unaudited)\n \n\n\n Purchase price of\n \n $2.2M\n \n\n , including\n \n $1.1M\n \n cash,\n \n $900K\n \n deferred consideration over a\n \n 5-year payment plan\n \n , and\n \n $200K\n \n in EMERGE shares issued at\n \n\n $0.065\n \n / share\n \n\n (180-day escrow)\n \n\n\n\n In 2024, combined revenue (EMERGE + T2G) exceeded $25M with positive Adjusted EBITDA\n \n (1)\n \n\n\n\n EMERGE's portfolio now includes\n \n 4\n \n brands across\n \n 2\n \n verticals:\n \n\n\n Grocery\n \n :\n \n truLOCAL\n \n\n (Meat & Seafood Subscription)\n \n\n\n\n Golf:\n \n\n UnderPar\n \n ,\n \n JustGolfStuff\n \n , and\n \n Tee 2 Green\n \n\n\n\n\n Alongside the Transaction, EMERGE entered into an amended credit facility with its existing lender offering an up to 24-month term\n \n\n\n\n Webcast: EMERGE CEO and Golf COO to host virtual webcast on\n \n Thursday, April 10, 2025\n \n at\n \n 11.00am ET\n \n\n (Register Below)\n \n\n\n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n April 7, 2025\n \n\n /CNW/ -\n \n EMERGE Commerce Ltd\n \n . (TSXV: ECOM) (\"\n \n EMERGE\n \n \" or the \"\n \n Company\n \n \"), a premium e-commerce brand portfolio, is pleased to announce that it has closed the acquisition of all the issued and outstanding shares of\n \n Tee 2 Green Ltd. (\"T2G\"),\n \n effective April 4 (the\n \n \"Transaction\"\n \n ).\n \n\n\n Ghassan Halazon, founder and CEO of EMERGE\n \n commented, \"The acquisition of Tee 2 Green marks the beginning of our next chapter at EMERGE which entails combining our organically growing business with this accretive, profitable, bolt-on acquisition, at favorable terms, and immediate synergies with our go...