NEW YORK, July 08, 2020 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTC: EFSH), a unique publicly traded holding company platform that acquires lower-middle market, American companies at attractive valuations, today announced its Asien’s Appliance (www.asiensappliance.com) subsidiary, a California-based appliance retailer, generated approximately $1.1 million in total sale in June 2020, up 21% over June 2019 total sales.
“We’re extremely pleased with the strong performance of Asien’s in its first month since the acquisition was completed, with sales growth more than doubling when compared to the year-over-year growth rate for the first half of 2020,” commented Ellery W. Roberts, founder and CEO of 1847 Holdings. “Under CEO Bob Patterson’s expert guidance, the post-acquisition transition has been smooth, and I believe bodes well for strong performance in the quarters ahead.”
“With Asien’s being a proven leader in its market, we’re building from a strong foundation,” added Bob Patterson, CEO of Asien’s Appliance. “I am pleased to have the opportunity to lead this company and its experienced and capable team into its next stage of growth.”
The household appliance market in the US is forecasted to exceed $21 billion in 2020 and is expected to grow at a CAGR of 13.7%, reaching $40 billion in 2025, according to data from Statista.
About 1847 Holdings LLC
1847 Holdings LLC (OTC: EFSH) operates American companies it acquires at attractive valuations, leveraging its management team’s extensive experience gained at leading investment firms, such as Colony Capital, Lazard Freres and Saunders, Karp & Megrue, to grow operations and create value. 1847 Holdings seeks to generate returns for shareholders in the future through consistent, annual distributions of operating subsidiary income and capital appreciation resulting from the timely sale of operating subsidiaries.
Important Notice and Forward-Looking Statements
Information included in this press release is accurate at the time of its release but may be superseded by subsequent releases or other information.
This press release may contain information about 1847 Holding's view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.
Contact:
Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com
Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com