- Levitee Labs (LVT) has completed the acquisition of all of the issued and outstanding shares of Earth Circle Organics Chain Inc.
- The acquisition adds more than 180 SKUs across three brands to the Levitee portfolio
- The three brands that make up the Levitee portfolio; Earth Circle Organics, Earth Shift Products, and Ojio, generated over US$2 million in revenue in the past 12 months
- Levitee plans to integrate the Earth Circle Organics brands with its MONKE Nutraceuticals products
- Levitee Labs is up 3.16 per cent, trading at $0.49 at 11:43 am ET
Levitee Labs (LVT) has completed the acquisition of all of the issued and outstanding shares of Earth Circle Organics Chain Inc.
The acquisition adds more than 180 SKUs across three brands to the Levitee portfolio.
The three brands that make up the Levitee portfolio; Earth Circle Organics, Earth Shift Products, and Ojio, generated over US$2 million in revenue in the past 12 months.
Levitee plans to integrate the Earth Circle Organics brands with its MONKE Nutraceuticals products to leverage supply chain and distribution synergies and accelerate growth by increasing ad spend and inventory levels.
Headquartered in Las Vegas, Nevada, Earth Circle Organics is a direct-to-consumer and wholesaler of supplements and superfood products. Earth Circle Organics sells its products primarily in the United States, but it also has a presence in Canada.
“We are very pleased to close the acquisition of our sixth cash flowing asset. The Earth Circle Organics portfolio of brands fits perfectly into our model as a vertically integrated wellness company with operations and distribution networks throughout North America. Work has already begun in collaboration with the existing Earth Circle Organics management team on transitioning the products under our umbrella and leveraging synergies to implement aggressive growth initiatives in the vertical,” said Levitee Chief Executive Officer Pouya Farmand.
Levitee Labs is up 3.16 per cent, trading at $0.49 at 11:43 am ET.
