Business
EMERGE Signs Definitive Agreement to Acquire Tee 2 Green, a Profitable Golf Apparel and Equipment Business
EMERGE Signs Definitive Agreement to Acquire Tee 2 Green, a Profitable Golf Apparel and Equipment...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n\n\n\n EMERGE Signs Definitive Agreement to Acquire Tee 2 Green, a Profitable Golf Apparel and Equipment Business\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\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 on closing,\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 or higher\n \n (subject to a 180-day escrow)\n \n\n\n Acquisition funded with cash on hand\n \n\n Inclusive of T2G, EMERGE expects to achieve\n \n positive cash flow\n \n in 2025\n \n\n As part of the deal, EMERGE is also acquiring a minimum of\n \n\n $2.3M\n \n inventory\n \n on closing under an\n \n 8-year payment plan\n \n , providing a sizable cash flow advantage in 2025\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 27, 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 the signing of a definitive agreement dated effective\n \n March 27, 2025\n \n , to acquire all issued and outstanding shares of\n \n Tee 2 Green Ltd. (\"T2G\")\n \n (the\n \n \"Transaction\"\n \n ).\n \n\n T2G is a profitable, discount golf apparel and equipment business with a\n \n 38-year track record\n \n of operations, focused on the Canadian market. T2G achieved\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 and positive net income of\n \n $700K\n \n\n in 2024 (unaudited). T2G is based in\n \n Ontario, Canada\n \n and was founded in 1987 by\n \n Robert J. Fell\n \n , who will continue to support T2G under EMERGE in his capacity as a consultant. T2G has a diversified revenue stream comprising two retail stores, dozens of roadshows, an online store, and a private label ...