Acquisition To Add Approximately $20 Million in Revenues to American Rebel
Nashville, TN, July 07, 2022 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) – America’s Patriotic Brand (the “Company”) today announced it has entered into an agreement to acquire Utah-based Champion Safe Company, and its ancillary companies (collectively, “Champion”). Champion is a leading manufacturer of gun safes with an industry wide reputation for security, fire protection, quality of finish and workmanship. The transaction is valued at approximately $9.9 million and is expected to add more than $20 million in revenues to American Rebel and be accretive to net income.
Andy Ross, Chief Executive Officer of American Rebel, commented, “We are excited to bring the Champion name into the American Rebel family. Founded in 1999 by Ray Crosby, Champion has three safe lines; Champion Safe, Superior Safe and Safe Guard Security Products; which feature some of the most secure and highest quality gun safes. We believe the companies are a natural fit and their synergies will help us grow the brands. For example, Champion factories already manufacture American Rebel safes. The addition of Champion’s dealers will be a great benefit to American Rebel. Champion has a clean balance sheet and a solid backlog of orders already, so we’re ready to move almost immediately. We’re looking forward to growing together.”
Doug Grau, President of American Rebel Holdings, added, “Ray Crosby is a foundational figure in the safe business and Champion Safe is the culmination of his 40 years in the safe business. We are proud to continue his legacy. Our combination will allow for expanded manufacturing to fill a significant backlog of orders and will allow for the development of new dealer accounts. Champion’s sizeable existing dealer base, nationwide distribution and seniority with buying groups and trade shows should have an immediate impact on American Rebel. The American Rebel team is very eager to work with Ray and his team and move the company forward.”
The acquisition is expected to close on or before August 31, 2022, and is subject to customary approvals, the obtaining of financing and other closing conditions.
About American Rebel Holdings, Inc.
American Rebel operates primarily as a designer and marketer of branded safes and personal security and self-defense products. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com. For investor information, visit www.americanrebel.com/investor-relations.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” "American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to raise sufficient funds to close the acquisition, our current reliance on a sole manufacturer and supplier for the production of our safes, our manufacturing partner’s ability to meet production demands, our ability to expand our sales organization to address existing and new markets that we intend to target, our ability to effectively compete in a competitive industry, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Readers are urged to review the Company’s Form 8-K dated July 6, 2022, which contains a copy of the Champion Acquisition Agreement and is available free of charge on the SEC’s website (www.sec.gov).
SOURCE: American Rebel Holdings, Inc.