GPOPlus+ Signs Binding Agreement to Acquire Betterment Retail Solutions

Rhea-AI Summary

GPO Plus, Inc. (OTCQB: GPOX) has signed a Binding Letter of Intent to acquire Betterment Retail Solutions, enhancing its presence in Direct Store Distribution (DSD) with over 470 retail locations across states including Texas and New Mexico. This strategic acquisition aims to leverage Betterment's established DSD infrastructure and align its Feel Good Shops concept, which offers CBD products, with GPOX's DISTRO+ distribution division. The move is expected to drive revenue growth and expand customer reach.

Positive

• Acquisition adds over 470 retail locations.
• Strengthens GPOX's DSD capabilities.
• Potential for increased revenue from distributed brands.

Negative

• None.

This acquisition immediately adds over 470 retail locations and marks GPOX’s expansion into DSD (Direct Store Distribution)

LAS VEGAS, NEVADA, Oct. 24, 2022 (GLOBE NEWSWIRE) -- GPO Plus, Inc. (OTCQB: GPOX), a publicly traded company of diversified Group Purchasing Organizations (GPOs) using the power of Group Purchasing to save businesses money, announced the signing of a Binding Letter of Intent (LOI) Asset Purchase Agreement to acquire assets of Betterment Retail Solutions, Inc. (“Betterment”), including its innovative “Feel Good Shop.”

Betterment developed a strong DSD (Direct Store Distribution) infrastructure catering to over 470 retail locations throughout Texas, New Mexico, Oklahoma, South Dakota, Iowa, Kansas, Wyoming, Missouri and Nebraska. Strong relationships with retailers include Yesway/Allsups, Texas Born, and CEFCO.

The Feel Good Shops is a “store within a store” concept at local retailers offering CBD and other cannabinoid (Delta-8, HHC, etc.) products from leading companies including Martha Stewart, Kill Cliff, Canopy Growth, John Daly Collection, and CaliGold. The Betterment and Feel Good Shops assets are to be managed under DISTRO+, GPOX’s distribution division, and GPO for specialty retailers and wholesalers.

Dorsey Sparks, President of Betterment said “I couldn't be happier about the opportunity with GPOX and DISTRO+. This partnership will support multiple growth opportunities and allow us to serve an exponentially larger customer base with our curated, best in class products. I'm excited to work with such a talented and energetic team!”

Joseph Jaconi, President of DISTRO+, said “We are elated to have reached an agreement with Betterment that will increase our (DISTRO+) distribution footprint immediately adding over 470 retail locations. This creates an amazing opportunity to generate additional sales from our distributed and owned brands like HERBERALL®, and enables us to expand our portfolio of products while increasing revenue for GPOX.”

Brett H. Pojunis, CEO of GPOX, said “We are extremely excited to work with Dorsey and continue to grow our distribution! Additionally, this asset purchase is an important step forward in the overall execution of our acquisitive growth strategy to build additional long-term shareholder value.”

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About Betterment Retail Solutions
Betterment RS cuts through the clutter of crowded, emerging categories to find the best in alternative and emerging health products. Betterment pairs its unmatched vetting process with extensive market knowledge to curate the perfect offering for each retailer. The product portfolio is diversified by high-potential ESG health and wellness brands, CBD Products and other cutting edge Hemp Derived solutions. Betterment offers true full-service DSD including store ordering, inventory management, store staff training, and maintaining and detailing shelf space for our retail partners. Betterment owns and operates The Feel Good Shop.

Betterment has offices and a full service logistics facility in Lubbock, Texas. For more information, please visit https://bettermentrs.com and https://thefeelgood.shop.

About DISTRO+
We help retailers save money + simplify purchasing!

DISTRO+ is a Group Purchasing Organization (GPO) + distributor of premium products for the emerging specialty retailer sector and wholesalers. DISTRO+ proudly represents best-in-class brands focusing on nutraceuticals, hemp derived products including flower, prerolls, gummies, sublingual strips and more utilizing the latest compounds and ingredients such as HHC, Farm Bill Compliant Delta 8 and Delta 10, THC-O, THC-P, and Kratom. All of this is backed by a robust technology portal that gives our small and medium sized partners (we call them “Members”) the IT backbone to manage logistics, inventory, payments while shopping from real time product catalogs and inventory. Through the power of Group Purchasing, DISTRO+ offers its network competitive pricing with low MOQs that realize similar discounts as major retailers with large buying power. Visit DISTRO.Plus for more information.

About GPOPlus+ (GPOX)

Headquartered in Las Vegas, Nevada, GPOPlus+ (OTCQB: GPOX) is a publicly traded company of diversified Group Purchasing Organizations (GPOs). Our Purpose is to save businesses money by activating the power of Group Purchasing and our Mission is to create value for our GPO Members, partners, suppliers, and shareholders.

Our Mantra:
We Aggregate, Negotiate + Share!

• Aggregate - We aggregate the purchasing power of our Members.
• Negotiate - We leverage buying power to negotiate discounts.
• Share - We share the discounts with our Members and save them money.

For more information, please visit www.GPOPlus.com. To activate your free GPOX Investor Account at www.GPOPlus.com/ir. 

Information about Forward-Looking Statements

This press release contains “forward-looking statements” that include statements regarding expected financial performance and growth information relating to future events. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the control of the Company and its officers and managers, and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to; inability to gain or maintain licenses, reliance on unaudited statements, the Company’s need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company’s products, and other risks that are detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission.  All statements other than statements of historical fact are statements that could be forward-looking statements. You can typically identify these forward-looking statements through use of words such as “may,” “will,” “can” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential,” and other similar words and expressions of the future. The Company expresses its expectations, beliefs and projections in good faith and believes that its expectations reflected in these forward-looking statements are based on reasonable assumptions. However, there is no assurance that these expectations, beliefs and projections will prove to have been correct. Such statements reflect the current views of the Company with respect to its operations and future events, and are subject to certain risks, uncertainties and assumptions relating to its proposed operations, including the risk factors set forth herein. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the Company’s actual results may vary significantly from those intended, anticipated, believed, estimated, expected or planned. In light of these risks, uncertainties and assumptions, any favorable forward-looking events discussed herein might not be realized and occur. The Company has no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed description of the risk factors and uncertainties affecting GPO Plus, Inc. GPOX, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contacts:

Betterment Retail Solutions Contact:
Dorsey Sparks, President
Lubbock, TX
Email: dorsey.sparks@bettermentrs.com

DISTRO+
Joseph Jaconi, President
Email: joe@distro.plus

Shareholder Success Team+ Investor Relation Contacts:
Brett H. Pojunis, CEO
Email: ir@gpoplus.com  
Shareholder’s Line: 855.935.GPOX (4769)

Attachment

• GPOPlus+ Signs Binding Agreement to Acquire Betterment Retail Solutions

FAQ

What does GPOX's acquisition of Betterment Retail Solutions involve?

GPOX's acquisition involves purchasing Betterment's assets, which include a robust Direct Store Distribution network and the Feel Good Shops offering CBD products.

How many retail locations does GPOX gain from the acquisition?

GPOX gains access to over 470 retail locations across several states, enhancing its distribution capabilities.

What is the strategic significance of GPOX's acquisition for its growth?

The acquisition is significant as it expands GPOX's distribution footprint and enhances its product offerings, potentially leading to increased revenue.

When was the acquisition by GPOX announced?

The acquisition was announced on October 24, 2022.