In a bold move that underscores its commitment to growth and innovation in the health and wellness sector, NxGen Brands, Inc. (OTCMKTS: NXGB), known colloquially as “NxGen,” has announced its latest strategic acquisition in the nutritional supplement market. This development marks NxGen’s continued expansion and its dedication to catering to diverse consumer needs within this dynamic industry.
The company, which can be explored in more detail at www.nxgenbrands.com, has signed a letter of intent to acquire one of America’s fastest-growing Nutritional Supplement Brands. This move is not just a testament to NxGen’s aggressive growth strategy but also highlights its keen eye for potential in the burgeoning nutritional supplement sector.
Finalizing the Deal: A December to Remember
The agreement is set to reach its final stages with the drafting of conclusive documents, expected to be completed and executed by both parties in December 2023. The acquisition target, boasting unaudited revenues of approximately $1 million at the closing for 2023, is not only profitable but also a beacon of potential in the industry. This acquisition represents NxGen’s second major stride in the market within the year.
A Distinctive Brand with Massive Potential
Joseph Lawanson, CEO of NxGen, expressed his enthusiasm about the acquisition: “This brand stands out from our previous acquisition, STORM Lifestyles, by targeting a completely different segment of the market – one that comprises some of the largest buyers in our industry. Its unique branding and product range, including high dosed pre-workout supplements, effective amino acids, high-end testosterone boosters, and premium fat burners, position it uniquely in the market. The brand’s strong presence in both direct-to-consumer channels and top brick-and-mortar stores presents immense opportunities for growth and expansion.”
NxGen’s recent acquisition of ‘Storm Lifestyle Brands’ (visit www.stormlifestylebrands.com) has already set a precedent for success. Launched in October 2021, Storm Lifestyle Brands has seen remarkable growth with its range of products like Pre-Workout, Burn, Revive, and Focus. The new acquisition is expected to complement and diversify NxGen’s portfolio, targeting a different yet equally fast-growing demographic.
Strategic Share Management
In a strategic move to consolidate its market position, the company has agreed with former officers to purchase and retire around 14 million shares. Additionally, 40 million shares issued to the new CEO, Joseph Lawanson, are set to remain restriction-free until 2026. With only 5.6 million shares currently held at DTC in the free trading float, the Issued Share Capital stands at 63,079,566.
With plans for explosive digital marketing campaigns in 2024 and a focus on leveraging social media platforms like Instagram™, TikTok™, and Facebook™, NxGen is poised to take this brand to unprecedented heights. The company’s vision, coupled with strategic acquisitions and innovative marketing strategies, positions it as a formidable player in the nutritional supplement market.
Stay tuned to IHR Magazine for more updates on NxGen Brands’ journey in revolutionizing the nutritional supplement landscape.
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