Southern ITS International, Inc. Acquires 80% Stake in Kinzie LLC

Rhea-AI Summary

Southern ITS International announced the acquisition of an 80% stake in Kinzie , an e-commerce company established in 2013. Kinzie started in the jewelry industry and has expanded into household items, surpassing $28 million in sales since inception. The acquisition is part of Southern ITS’s strategy to expand in the e-commerce sector. Gil Irey, President of Southern ITS, highlighted the strategic benefits of integrating Kinzie’s operations. Kinzie’s CEO, Jeremy Larsen, expressed optimism about leveraging Southern ITS’s resources for further growth. The deal aims to scale Kinzie's operations and enhance market presence, focusing on high-volume partnerships and maintaining its branded jewelry products.

Positive

• Southern ITS International's acquisition of an 80% stake in Kinzie enhances its e-commerce footprint.
• Kinzie has achieved over $28 million in sales since 2013.
• Kinzie has restructured its business plan to focus on high-volume brands on Amazon.com, indicating strategic growth potential.
• Integration with Southern ITS International offers Kinzie access to valuable resources and support.
• The acquisition aligns with Southern ITS’s strategy to diversify and capitalize on the e-commerce industry.

Negative

• No specific financial terms of the acquisition were disclosed, raising questions about the deal's immediate financial impact on Southern ITS International.
• Kinzie 's historical performance data is to total sales, with no insight into profitability or financial stability.
• The restructuring of Kinzie's business plan over the past 18 months might indicate prior operational difficulties.

SCOTTSDALE, AZ / ACCESSWIRE / June 11, 2024 / Southern ITS International, Inc. (OTC PINK:SITS) today announced that it has successfully acquired an 80% ownership stake in Kinzie LLC, a dynamic e-commerce enterprise.

Kinzie LLC, established in 2013 and previously family-owned, started in the jewelry industry and has expanded its offerings to include everyday household items. The company has surpassed $28 million in sales since its inception.

Gil Irey, President of Southern ITS International, Inc., commented on the acquisition, "This acquisition is a pivotal move for Southern ITS as we deepen our footprint in the e-commerce space. We are excited to bring this vibrant company under our umbrella."

Kinzie LLC has spent the last 18 months restructuring its business plan to focus on strategic partnerships with high-volume brands selling on Amazon.com. In addition to offering in-demand household-name brands with a track record of success, Kinzie will continue selling its own suite of branded jewelry products.

"Joining forces with Southern ITS International opens up a wealth of opportunities for Kinzie," said Jeremy Larsen, CEO of Kinzie LLC. "With the support and resources of Southern ITS International, we are excited at the possibilities for greater poised for even greater expansion and innovation."

Under the terms of the agreement, Southern ITS International will hold an 80% stake in Kinzie LLC, with plans to leverage its network and expertise to scale Kinzie's operations and enhance its market presence. The acquisition is aligned with Southern ITS's strategy to diversify its investment portfolio and capitalize on the e-commerce industry.

About Southern ITS International, Inc.:
Southern ITS International, Inc. operates through its subsidiary companies across diverse sectors, each with a strategic focus, including oil and gas exploration, clothing, consumer beverages, and e-commerce fulfillment. Our goal is to expand and strengthen our portfolio of successful businesses.

As a holding company, Southern ITS International actively seeks opportunities to acquire stakes in both public and private companies that complement our current operations. Our mission revolves around establishing a robust Direct-to-Consumer (DTC) and Business-To-Business (B2B) network, leveraging the vast potential of e-commerce across various industries, such as manufacturing, distribution, and product sales.

To achieve our objectives, we have assembled a seasoned management team dedicated to building a diversified portfolio. This entails acquiring entire companies or interests in sectors spanning technology, oil and gas, manufacturing, real estate, and more, ultimately integrating them as operating subsidiaries under the Southern ITS International umbrella.

For investor inquiries, please contact:
Investor Relations
Southern ITS International, Inc.
Phone: 480-258-3674
Email: info@sitsintl.com

Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.

SOURCE: Southern ITS International, Inc.

View the original press release on accesswire.com

FAQ

What did Southern ITS International announce on June 11, 2024?

Southern ITS International announced the acquisition of an 80% stake in Kinzie on June 11, 2024.

What are the details of Southern ITS International's acquisition of Kinzie ?

Southern ITS International acquired an 80% stake in Kinzie , a company that has surpassed $28 million in sales and operates in the e-commerce sector.

What is the significance of the Kinzie acquisition for Southern ITS International?

The acquisition is a strategic move to expand Southern ITS International's footprint in the e-commerce space and diversify its investment portfolio.

What business sectors does Kinzie operate in?

Kinzie operates in the jewelry industry and has expanded to include everyday household items.

Who commented on the strategic benefits of the acquisition for Southern ITS International?

Gil Irey, President of Southern ITS International, commented on the strategic benefits of the acquisition.

What recent changes has Kinzie made to its business plan?

Over the last 18 months, Kinzie restructured its business plan to focus on high-volume brands selling on Amazon.com and will continue to sell its branded jewelry products.

What are the expected benefits for Kinzie from the acquisition by Southern ITS International?

Kinzie is expected to benefit from Southern ITS International's resources and support, which will help in scaling operations and enhancing market presence.

How does the acquisition align with Southern ITS International's business strategy?

The acquisition aligns with Southern ITS International's strategy to diversify its investment portfolio and capitalize on the e-commerce industry.