1847 Subsidiary, ICU Eyewear, Secures Large Purchase Order from Major Super Market Chain in Florida for Personal Care Products
1847 Holdings LLC (NYSE American:EFSH) announced a significant purchase order valued at over $260,000 for personal care products from a major supermarket chain in Florida. This order comes from ICU Eyewear Holdings Inc., a subsidiary that specializes in Over-the-Counter eyewear and PPE products. Since ICU's acquisition in February 2023, the company has expanded its offerings and distribution network, highlighting strong sales momentum, especially at retailers like Target. CEO Ellery W. Roberts emphasized the importance of this order as a validation of their acquisition strategy and ongoing business growth.
1847 Holdings aims to leverage capital market inefficiencies to enhance the performance of lower-middle market businesses, ultimately leading to potential higher valuations or consistent dividends for shareholders.
- Secured a $260,000 purchase order for personal care products, indicating strong demand.
- Expansion of product lines with a major supermarket chain reinforces ICU's market position.
- ICU's eyewear products are the #1 provider at Target, showcasing brand strength.
- None.
NEW YORK, NY / ACCESSWIRE / April 14, 2023 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that its subsidiary, ICU Eyewear Holdings Inc. ("ICU"), has secured a large purchase order for personal care products with a major supermarket chain based in Florida, valued at over
1847 acquired ICU, a leading designer of Over-the-Counter (OTC), non-prescription reading glasses, sunglasses, blue light blocking eyewear, sun readers and outdoor specialty sunglasses in February 2023. In 2020, ICU formed its ICU Personal Care brand to serve the needs of existing and new customers for Personal Protective Equipment (PPE) and related personal care categories.
Mr. Ellery W. Roberts, CEO of 1847, commented, "ICU has done business with this well-known supermarket chain for almost 16 months now, and we are pleased to add new product lines to the roster. Importantly, we are leveraging ICU's growing distribution network with key retailers, as well as its robust supply chain and design capability to gain economies of scale. This latest order is strong validation of our acquisition strategy"
"Our eyewear line has earned the title of #1 provider of OTC eyewear at Target, in addition to their exclusive provider of personal care products. Given our reputation for value and quality, we are experiencing strong sales momentum at additional retailers, as evidenced by this latest significant order," stated Robert Rheaume VP of Sales of ICU Eyewear.
About 1847 Holdings LLC
1847 Holdings LLC (NYSE American:EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.
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Forward-Looking Statements
This press release may contain information about 1847 Holdings' 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.
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SOURCE: 1847 Holdings LLC
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