Business
Exxe Group Closes the First in a Series of Acquisitions and Embarks to Capture a Market Share of the Multi-Billion Dollar Agribusiness Industry
Exxe Group Closes the First in a Series of Acquisitions and Embarks to Capture a Market Share of the Multi-Billion Dollar Agribusiness Industry.
About this update from Exxe Group Inc.
[{"type":"text","content":"\n NEW YORK, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Exxe Group, Inc. (OTC: AXXA), a diversified company focused on synergistic acquisitions in real estate, sustainable technology, media, financial services and agribusiness, today announced that it has acquired a controlling stake in Onyx Physical Commodities Trading Group (“ONYX”), with the expectation that the regulatory forms will be completed within the next week. This transaction represents the first of four related deals that will enable Exxe Group to establish a substantial end-to-end global footprint in the fast-growing, multi-billion dollar agribusiness marketplace. Target Overview: First Acquisition: Transaction Details:  ONYX was acquired through a combination of private equity funding, installment payments, debt, privately structured capital investments and personal guarantees. A controlling interest representing a total of approximately $12 million in company-wide assets was secured by Exxe’s contractual commitments that included installments payable over a three year period. Onyx which has offices throughout Europe including France, Switzerland, Bulgaria, Romania, Turkey and Ukraine, is in the process of relocating its global headquarters from Paris, France to New York City, USA in order to be covered by US regulatory requirements for greater stock market transparency.  ONYX will fall under Exxe’s Agribusiness division. Onyx is a physical commodity trading entity representing a network of farmers that produce wheat, barley, corn, and sunflower over thousands of hectares of farmland, with the capacity to produce much sought-after hemp on a global scale.  This unique opportunity will leverage  Exxe’s growing presence in the Agribusiness marketplace.  Implementing and incorporating Exxe’s CRM marketing technology coupled with Exxe’s Agribusiness management and financial expertise throughout its global network, Exxe poised to increase physical sales volume and gross profits over fivefold in a matter of months within during a 12 month period.  Total gross sales estimates could rise from approximately $5 million recorded in 2018 up to $25 million, thereby valuing the deal at $50 million. The Onyx acquisition represents just one of the major deals in a pipeline currently underway by the Exxe Group. Other c...