Eightco Announces the Completion of the sale of Fergueson Containers, Inc.
Eightco Holdings Inc. (NASDAQ: OCTO) has completed the sale of its subsidiary, Ferguson Containers, Inc. to Reichard Corrugated Products, , a company controlled by Ferguson Containers' existing management.
The strategic divestiture aligns with Eightco's focus on its core business, Forever 8 Fund, , which provides inventory and cash flow management solutions. The sale represents a milestone enabling both companies to better position themselves for long-term success.
The transaction details are documented in the Company's Current Report on Form 8-K filed with the SEC on November 27, 2024. Edward and Derick Reichard, Senior Managers at Ferguson Containers for 35 years and Founders of Reichard Corrugated Products, will lead the acquired business.
Eightco Holdings Inc. (NASDAQ: OCTO) ha completato la vendita della sua controllata, Ferguson Containers, Inc. a Reichard Corrugated Products, una società controllata dalla direzione attuale di Ferguson Containers.
Questa dismissione strategica è in linea con l'attenzione di Eightco sul suo core business, Forever 8 Fund, che fornisce soluzioni per la gestione dell'inventario e del flusso di cassa. La vendita rappresenta un traguardo che consente a entrambe le aziende di posizionarsi meglio per il successo a lungo termine.
I dettagli della transazione sono documentati nel Rapporto Attuale dell'Azienda sul Modulo 8-K depositato presso la SEC il 27 novembre 2024. Edward e Derick Reichard, Manager Senior presso Ferguson Containers da 35 anni e Fondatori di Reichard Corrugated Products, guideranno l'azienda acquisita.
Eightco Holdings Inc. (NASDAQ: OCTO) ha completado la venta de su subsidiaria, Ferguson Containers, Inc. a Reichard Corrugated Products, una empresa controlada por la actual dirección de Ferguson Containers.
Esta desinversión estratégica se alinea con el enfoque de Eightco en su negocio principal, Forever 8 Fund, que proporciona soluciones para la gestión de inventarios y flujo de caja. La venta representa un hito que permite a ambas empresas posicionarse mejor para el éxito a largo plazo.
Los detalles de la transacción están documentados en el Informe Actual de la Compañía en el Formulario 8-K presentado ante la SEC el 27 de noviembre de 2024. Edward y Derick Reichard, Gerentes Senior en Ferguson Containers durante 35 años y Fundadores de Reichard Corrugated Products, liderarán el negocio adquirido.
Eightco Holdings Inc. (NASDAQ: OCTO)는 자회사인 Ferguson Containers, Inc.를 Ferguson Containers의 기존 경영진이 관리하는 회사인 Reichard Corrugated Products에 매각 완료했습니다.
이번 전략적 매각은 Eightco가 핵심 사업인 Forever 8 Fund에 집중하는 것과 일치하며, 이는 재고 및 현금 흐름 관리 솔루션을 제공합니다. 이번 매각은 두 회사가 장기적인 성공을 위해 더 나은 위치를 차지할 수 있도록 하는 이정표가 됩니다.
거래 세부사항은 2024년 11월 27일 SEC에 제출된 회사의 현재 보고서 8-K 양식에 문서화되어 있습니다. Edward와 Derick Reichard는 Ferguson Containers에서 35년 동안 수석 관리자였으며 Reichard Corrugated Products의 창립자로, 인수한 사업을 이끌게 됩니다.
Eightco Holdings Inc. (NASDAQ: OCTO) a finalisé la vente de sa filiale, Ferguson Containers, Inc. à Reichard Corrugated Products, une entreprise contrôlée par la direction actuelle de Ferguson Containers.
Cette cession stratégique s'inscrit dans le cadre de l'orientation d'Eightco vers son activité principale, Forever 8 Fund, qui propose des solutions de gestion d'inventaire et de flux de trésorerie. La vente représente une étape importante permettant aux deux entreprises de mieux se positionner pour un succès à long terme.
Les détails de la transaction sont documentés dans le Rapport Actuel de l'Entreprise sur le Formulaire 8-K déposé auprès de la SEC le 27 novembre 2024. Edward et Derick Reichard, Directeurs Seniors chez Ferguson Containers depuis 35 ans et Fondateurs de Reichard Corrugated Products, dirigeront l'entreprise acquise.
Eightco Holdings Inc. (NASDAQ: OCTO) hat den Verkauf ihrer Tochtergesellschaft, Ferguson Containers, Inc. an Reichard Corrugated Products abgeschlossen, ein Unternehmen, das von der bestehenden Geschäftsführung von Ferguson Containers kontrolliert wird.
Diese strategische Veräußerung steht im Einklang mit Eightcos Fokus auf ihr Kerngeschäft, Forever 8 Fund,, das Lösungen für das Management von Beständen und Cashflow bietet. Der Verkauf stellt einen Meilenstein dar, der es beiden Unternehmen ermöglicht, sich besser für den langfristigen Erfolg zu positionieren.
Die Einzelheiten der Transaktion sind im aktuellen Bericht des Unternehmens auf dem Formular 8-K dokumentiert, der am 27. November 2024 bei der SEC eingereicht wurde. Edward und Derick Reichard, die seit 35 Jahren Senior Manager bei Ferguson Containers sind und die Gründer von Reichard Corrugated Products, werden das erworbene Geschäft leiten.
- Strategic divestiture allows focus on core business Forever 8
- Streamlines operations by eliminating non-core assets
- Reduction in business diversification
- Loss of revenue stream from container business
Strategic Divestiture Continues Focus on Core Forever 8 Business’ Long-Term Growth
Easton, PA, April 11, 2025 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) today announced that it has completed the sale of its subsidiary, Ferguson Containers, Inc., to Reichard Corrugated Products, LLC, an entity controlled by the existing management of Ferguson Containers.
“We are pleased to announce the sale of Ferguson Containers. This planned divestiture is a milestone that will allow both companies to better position themselves for long-term success and aligns with our focus on our core business,” said Paul Vassilakos, CEO of Eightco and President of Forever 8 Fund, LLC (“Forever 8”), the Company’s remaining subsidiary. “We are grateful for the commitment and value Ferguson Containers has provided us. We extend our sincere congratulations to Edward and Derick Reichard, Senior Managers at Ferugson Containers for 35 years and Founders of Reichard Corrugated Products, LLC, and their team. We wish them the best as they embark on this new chapter.”
Mr. Vassilakos, continued “This transaction is consistent with Eightco’s strategy to prioroitize and continue to sharpen its focus on its core business, Forever 8, and will move forward with its ongoing efforts to drive long-term growth by responding to the high demand for inventory and cash flow management solutions.”
A description of the Asset Purchase Agreement and the terms of the acquisition are contained in the Company’s Current Report on Form 8-K which was filed with the U.S. Securities and Exchange Commission (“SEC”) on November 27, 2024 and can be found at at www.sec.gov.
About Eightco Holdings, Inc.
Eightco (NASDAQ: OCTO) is committed to growth of its subsidiary, Forever 8 Fund, LLC, an inventory capital and management platform for e-commerce sellers. In addition, the Company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions. Through a combination of innovative strategies and focused execution, Eightco aims to create significant value and growth for its stockholders.
For additional information, please visit www.8co.holdings and www.forever8.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact could be deemed forward looking. Words such as “plans,” “expects,” “will,” “anticipates,” “continue,” “expand,” “advance,” “develop” “believes,” “guidance,” “target,” “may,” “remain,” “project,” “outlook,” “intend,” “estimate,” “could,” “should,” and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management’s current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: Eightco’s ability to maintain compliance with the Nasdaq’s continued listing requirements; unexpected costs, charges or expenses that reduce Eightco’s capital resources; Eightco’s inability to raise adequate capital to fund its business; and Eightco’s inability to innovate and attract users for Eightco’s products and services. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Eightco’s actual results to differ from those contained in forward-looking statements, see Eightco’s filings with the SEC, including in its Annual Report on Form 10-K filed with the SEC on April 1, 2024. All information in this press release is as of the date of the release, and Eightco undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.
For further information, please contact:
Investor Relations
investors@8co.holdings
FAQ
What is the strategic significance of OCTO selling Ferguson Containers?
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When did OCTO file the Form 8-K for the Ferguson Containers sale?
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