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EMERGE Completes Sale of Non-Core Asset, Carnivore Club, for $500,000
EMERGE Completes Sale of Non-Core Asset, Carnivore Club, for $500,000 Canada NewsWire ...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n\n\n\n EMERGE Completes Sale of Non-Core Asset, Carnivore Club, for $500,000\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 Transaction Enhances Cash Available to Invest in Profitable Growth Opportunities\n \n\n\n\n Total purchase price of\n \n $500,000\n \n , including\n \n $350,000\n \n cash on closing, and a\n \n $150,000\n \n seller note, payable to EMERGE in cash over 15 equal monthly installments\n \n\n Carnivore Club was a non-core asset, and EMERGE was actively eliminating its revenue in 2024, while prioritizing the growth of our larger, more profitable businesses\n \n\n\n Excluding Carnivore Club, the EMERGE portfolio exhibited strong organic revenue growth and significantly improved profitability in 2024 YTD\n \n\n\n Transaction bolsters EMERGE's cash position which exceeded\n \n $3M\n \n at year-end, following the sale of the Company's SHOP domains to Shopify\n \n\n EMERGE remains focused on its growing grocery and golf businesses\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Jan. 16, 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 the Company and subsidiaries of the Company (together, the \"\n \n Sellers\n \n \"), being Carnivore Club LLC, a\n \n Georgia\n \n limited liability company and Carnivore Club Subscription Box Canada Inc., have entered into a definitive asset purchase agreement (the \"\n \n Agreement\n \n \"), with Carnivore Club, LLC, an\n \n Indiana\n \n limited liability company and Carnivore Club, ULC, an unlimited liability company organized under the laws of\n \n British Columbia\n \n (together, the \"\n \n Buyers\n \n \"), pursuant to which the Sellers has sold to the Buyers substantially all of the assets related to their Canadian and US businesses (the \"\n \n Transaction\n \n \") for a total purchase price of\n \n $500,000\n \n .\n \n\n\n Ghassan Halazon, founder and CEO of EMERGE,\n \n commented, \"Our decision to sell Carnivore Club is consistent with our stated objective...