August 8, 2022 02:07 CST | Source: American Rebel Holdings Inc
Acquisition Expected to Add Approximately $20 Million in Revenues to American Rebel
Nashville, TN, Aug. 04, 2022 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB)(NASDAQ: AREBW) – America’s Patriotic Brand (the “Company”) today announced it has completed its acquisition of Utah-based Champion Safe Company, and its ancillary companies (collectively, “Champion”), in a transaction valued at approximately $9.9 million.
Champion is a leading manufacturer of gun safes, with a well-known reputation for security, fire protection, quality of finish and workmanship. The transaction 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 delighted to complete the acquisition of Champion. We’ve added a terrific company with an amazing product line. The combined companies will be a leading player in the safe industry and American Rebel takes a large step in becoming America’s life-style brand. Champion’s solid background of orders means it will begin contributing on day one, and with Champion’s reputation in the industry, we look forward to adding more dealer accounts over time.”
EF Hutton, a division of Benchmark Investments, LLC, acted as the financial advisor to the Company in connection with the acquisition.
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