Business
iBrands Corporation Finalizes Acquisition of Green Tree
iBrands Corporation Finalizes Acquisition of Green Tree.
About this update from I Brands Corp
[{"type":"text","content":"iBrands Corporation Inc.(OTC-IBRC) today announced that it\nhas completed the acquisition of Green Tree Syndicate Inc. (“Green Tree”), a\nleading provider of E-Juice and vapor devices to the C Store industry. The\nacquisition complements iBrands’ leading-edge product portfolio and enables a\nnew channel for distribution in the high-volume C Store industry.\n\n“Green Tree is now part of iBrands, and together we will\nmake their next generation of vaping products not only better, but able to\ndistribute them to a much broader market.,” said Michael Ogburn, iBrands CEO. Bashar\nBallos, former CEO of Green Tree, will come on board as the National Sales\nDirector. He has over 20 years in the C Store distribution market and has many\nrelationships that iBrands weren’t able to get before. \n\nOgburn went on to state “This acquisition is the first of\nthree companies we have under contract to purchase right now. Many look at the\nE-Cigarette market as a “has been” and that it’s tired now. To an extent, this\nis true. Many E Cigarettes that are in C Stores now are the same disposable\ndevises that were in there five years ago. But because the E Cig industry is\ngrowing at 30% annually, we see this as a goldmine. Introducing our state of\nthe art devices and E Juice will allow our distribution model be a “first to\nmarket” event. Consider that the average “vaper” consumes $15-$30 per day in E\nJuice, swapping out the old disposable devices with new devices that require\nthe separate juice, allows the user to enjoy a broader range, and a more\nenjoyable experience. Having it available\nin a C Store will also make the purchase much easier”.\n\niBrands expects the acquisition to pay for itself in the\nfirst quarter of operation, and bring over $6 million in new revenue by the end\nof 2016. \n\nAbout iBrands Corporation, Inc.: \n\n \n\nHeadquartered\nin Irvine, California, iBrands Corporation, Inc. engages in the manufacturing\nand distribution of Ultra-Premium Vapor and Beverage products. The company\noffers a wide variety of Vapor Products, E-Liquids and Natural Beverages that are\nmade in the USA. \n\n \n\nSafe Harbor Statement: \n\n \n\nThis\npress release may contain forward looking statements and or observations which\nare based on current expectations, forecasts, and assumptions that involve\nrisks as well as un...