Acquisition boosts Company’s accelerated entry into global luxury goods and lifestyle marketplace
LAS VEGAS, NEVADA, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Global A Brands, Inc. (GAB), a multinational company that acquires and develops early stage luxury goods and lifestyle businesses, today announced it has acquired privately held Swiss holding company VIRDI UNIT SA, which houses proprietary luxury brands, including a skincare branded line of synthetic CBD-based products, Virisens. The acquisition represents a strategic move to further strengthen GAB’s position as an emerging house of brands with a focus on consumer product offerings, which include cosmetics, wellness products, alcohol and gaming verticals. The acquisition includes approximately $3.8 million of inventory and approximately $1 million cash equivalent, which will be consolidated into the GAB balance sheet.
“Virisens is a pioneer in synthetic CBD cosmetology and offers a full range of body and skincare products whose primary active ingredient is pure CBD complex and that is distinguished in part by avoiding the use of endocrine disrupting chemicals (EDC) while relying on vegan and clinically tested ingredients,” commented Manny A. Lopez, CEO of Global A Brands. “The brand represents the movement into clean beauty using the benefits of CBD cosmetology for its powerful anti-aging and antioxidant properties. We are excited to bring Virisens to the U.S marketplace as we expand our geographic footprint through safe and clean beauty products. The Virisens acquisition and its thoroughly researched cosmetic line further demonstrate our focus on organic and clean beauty, which is a thriving and growing market.
“We are actively engaged in discussions with U.S retailers to showcase Virisens products,” he added, “as well as to work on re-launching our ecommerce marketing portal to sell direct-to-consumer. We envision this product line, with its huge opportunity for geographic expansion, to provide strong prospects to accelerate our branding and earnings power.”
About Global A Brands
Global A Brands, Inc. (GAB), is a multinational company that acquires and develops early-stage businesses within the Luxury Goods and Lifestyle market segments. GAB controls ten subsidiaries that are each managed independently under the Company’s four divisions Liquor, Cosmetics, Distribution and Gaming.
The Company’s model centers around a long-term vision to build a portfolio of sustainable, premium consumer-driven products which are creative, unique and competitive in their industry. GAB provides a framework for each brand to have independent creative and management control while working synergically and sharing resources together to create, produce and market their products and enhance shareholder value.
For more information on Virisens, visit: https://www.virisenslab.com/en/
For more information on Global A Brands, visit: https://www.globalabrands.com
Safe Harbor Statement
This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date of this release, and we will not necessarily provide updates of our projections or other forward-looking statements. Investors are cautioned that such forward-looking statements from Global A Brands are subject to many risks and uncertainties, and may differ materially or adversely from our actual results or future events. Some risk factors may be, but are not limited to: consumer engagement with the brand, negative reaction to the announcement, volatility of the market, and thereforth. Additional risks and factors that may affect results are set forth in our filings with the Securities and Exchange Commission on Form 10-K. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.
Company Inquiries
Manny Lopez
manny@globalabrands.com
Media
Jessica Starman
888-461-2233
Jessica@elev8newmedia.com
www.elev8newmedia.com
