Apple Rush Co., Inc. Completes Acquisition of Elev8 Hemp, LLC
Apple Rush Co., Inc. (OTC Pink: APRU) has acquired Elev8 Hemp, LLC from Branded Legacy, Inc. (OTCQB: BLEG). This acquisition aims to expand the Elev8 Hemp brand, which specializes in hemp-infused coffees and teas. Elev8, established in 2016, offers a range of flavors and has a proven distribution network. The global coffee market is projected to reach $585 billion by 2025. Apple Rush plans to leverage this acquisition to introduce new coffee variations and existing product lines to a wider customer base.
- Acquisition of Elev8 Hemp expands product portfolio into the hemp-infused coffee market.
- Strong growth potential as the coffee market is projected to reach $585 billion by 2025.
- Elev8's existing distribution network enhances market penetration opportunities.
- Integration challenges may arise from the acquisition process.
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Orlando, FL , Oct. 26, 2022 (GLOBE NEWSWIRE) -- Apple Rush Co., Inc. (OTC Pink: APRU), a holding company that engages in the business of developing, marketing, distributing, and selling products that promote a healthy lifestyle with a primary focus on food, beverage, anhydrous Hemp oil marketplace, kratom, kava, and other active ingredients announces it has purchased Elev8 Hemp, LLC from public company, Branded Legacy, Inc. (OTCQB: BLEG).
Elev8 Hemp is an established brand with existing distribution in brick-and-mortar locations. The Company plans to expand the Elev8 Hemp brand with multiple new coffee variations as well as utilizing this new customer base as an avenue to introduce some of Apple Rush Co., Inc.’s existing product lines.
The largest market for hot drinks is coffee, which is predicted to reach US
It has been seen over the past few years that consumers are becoming more conscious of the manufacture of the things they purchase and the origin of their purchases. This is true, particularly when it comes to the supply chain for goods like coffee that are used in food and beverages. To assure the legitimacy of their coffee purchases, buyers are therefore keenly searching for certified coffee goods. https://www.mordorintelligence.com/industry-reports/coffee-market
Elev8 Hemp, LLC, now a wholly owned subsidiary of Apple Rush Co., Inc., produces Hemp-infused coffees and teas. They were established in 2016 and introduced their first hemp coffee brewed with beans from Guatemala, Colombia, and Brazil. Since then, they have developed into a variety of hemp coffee flavors, added hemp tea, and introduced a whole bean coffee with CBD.
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “We are really excited about the sale of Elev8 and believe that this might be an excellent chance for our shareholders to become invested in two outstanding companies. By strategically spinning off assets that are not our primary focus, we are able to grow the business successfully for the benefit of our shareholders.”
Tony Torgerud, CEO of Apple Rush Co., Inc. stated, “I remember this brand from about five or six years ago and thought it was a very unique brand with much potential. They were in multiple supermarkets with Apple Rush. I'm eager to include it in our portfolio. In my opinion, I believe we can significantly grow this coffee line and have it further penetrating the market in a short period of time. It has historically done over 30k a month on Amazon and with consumers spending more now than ever online, we feel this number will be exceeded in the near future. We also see Elev8 having more CBD coffees, Delta 8, HHC, or other active ingredients and even expanding into kratom coffee.”
About The Apple Rush Company, Inc.
The Apple Rush Company, Inc., through its subsidiary APRU, LLC, is a distributor of CPG products under the trademarked Apple Rush brand, Element Brands and other labels. The Apple Rush brand has 50 years of existence in the natural beverage industry. As a historical leader in the organic and natural beverage sector our goal is to now become a leader in the distribution of anhydrous hemp oil products nationwide. For more information, please go to www.applerush.com, www.aprubrands.com, https://woahnursery.com, and www.element-brands.com , www.elev8hemp.com with our expanded product portfolio.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Tony Torgerud 888-741-3777 x 2
FAQ
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