Upexi Closes Acquisition of E-Core and its Subsidiaries, Adding Over $40 Million in Trailing Twelve Month Sales and Increasing Projected Calendar 2023 Sales to $100M
Upexi Inc. (NASDAQ: UPXI) (the "Company" or "Upexi"), a multi-faceted brand owner and innovator in aggregation, today announced the closing of its acquisition of E-Core, Inc. ("E-Core") and its subsidiaries; Tytan Products ("Tytan") and New England Technology, Inc., ("New England Technology"), for a combination of cash, stock and one-to-three year notes. Tytan is a children's toy brand and maker of popular magnetic tiles and building blocks and New England Technology is a national distributor for branded consumer products
E-Core's subsidiaries, Tytan Products and New England Technology, provide Upexi with entrance into the toy category as well as national retail distribution for branded and non- branded products
CLEARWATER, Fla., Nov. 2, 2022 /PRNewswire/ -- Upexi Inc. (NASDAQ: UPXI) (the "Company" or "Upexi"), a multi-faceted brand owner and innovator in aggregation, today announced the closing of its acquisition of E-Core, Inc. ("E-Core") and its subsidiaries; Tytan Products ("Tytan") and New England Technology, Inc., ("New England Technology"), for a combination of cash, stock and one-to-three year notes. Tytan is a children's toy brand and maker of popular magnetic tiles and building blocks and New England Technology is a national distributor for branded consumer products.
Allan Marshall, CEO of Upexi, commented, "The diversified business of E-Core is very complimentary to our brand acquisition and distribution business model and E-Core and its subsidiaries fit perfectly with our model of profitability and organic growth. In particular, Tytan has grown 100% over the past two years, with major retail distribution through some of the largest retailers in America. We are excited to enter another recession resistant category with compounding organic growth and national distribution."
With over $40 million in trailing twelve-month sales, E-Core provides Upexi with an entrance into the toy category as well as national retail distribution for owned and non-owned branded products. Tytan is a high-quality, eco-conscious toy company that has grown 100% over the past two years. They are continuously expanding their network of retail partners with new, innovative offerings and their products are currently available online through Walmart.com and SamsClub.com, as well as in-store through leading retailers such as Walmart, Sam's Club and BJ's Wholesale. New England Technology is one of the most competitively priced distributors for name branded consumer electronics in the industry with several innovative distribution models specializing in e-commerce, business to business, and business to consumer marketplaces.
