Apple Rush Company, Inc. announces signing of LOI to acquire Lena Brewing providing a critical piece of our seed to sale initiative

Rhea-AI Summary

The Apple Rush Company (OTC PINK: APRU) announced its intention to acquire Lena Beverage, LLC, a craft brewing operation with licensing for various production. The acquisition, structured through cash, non-convertible debt, and APRU's preferred shares, aims to enhance production capabilities for Apple Rush products, including hard seltzer. CEO Tony Torgerud emphasizes that this move supports their seed to sale initiative and positions APRU for growth, expecting revenues near $800,000 annually. Lena Beverage's founder expressed excitement about the partnership.

Positive

• Acquisition of Lena Beverage adds production capabilities for Apple Rush products.
• Expected annual revenue of $800,000 enhances growth prospects.
• Strengthens the seed to sale initiative and supply chain control.

Negative

• None.

News Market Reaction – APRU

+5.26%

1 alert

+5.26% News Effect

On the day this news was published, APRU gained 5.26%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TITUSVILLE, Fla., June 2, 2022 /PRNewswire/ -- The Apple Rush Company, Inc. (OTC PINK: APRU) (the "company") has signed a letter of intent to acquire Lena Beverage, LLC.  Lena Beverage is a craft brewing operation with licensing for beer, alcohol, and hemp production.  The transaction will be paid for in cash, non-convertible debt, and preferred shares of APRU.  Tony Torgerud, CEO of Apple Rush, stated, "This acquisition provides us with the cycle closing capability of our seed to sale initiative.  We will also be able to begin producing Apple Rush in our own facilities not captive to large volumes per batch.  It will also give us the ability to produce our hard seltzer product line."

Apple Rush Company, Inc. to acquire Lena Brewery in Lena, Illinois to produce our products on demand.

Ross Vehmeier, founder Lena Beverage, stated, "We are very excited to join the APRU family and look forward to growing our beverage footprint as a result.  Tony and his team are very talented folks that we are very excited to grow with."

"APRU, with a complete team of professional brewers will give us regional capabilities at the onset, with national aspirations and with revenues approaching $800,000 per year without our current needs will deliver excellent growth opportunities for us in the future.  Sign up for updates at http://aprubrands.com/contact/ and enter to win sample products from APRU.  Only forms with complete, accurate information will be entered.  Keep watching our video updates at https://www.youtube.com/channel/UCq86ODBlqGktGs35ovpTwuw to continue watching the story unfold," continued Tony.

About The Apple Rush Company, Inc. 

The Apple Rush Company, Inc., through its subsidiary APRU, LLC, is a distributor of CPG products under the trademarked Apple Rush brand, Element Brands and other labels. The Apple Rush brand has almost 49 years of existence in the natural beverage industry. As a historical leader in the organic and natural beverage sector our goal is to now become a leader in the distribution of anhydrous hemp oil products nationwide. For more information, please go to www.applerush.com, www.aprubrands.com, https://woahnursery.com, and www.element-brands.com  with our expanded product portfolio.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
Tony Torgerud 888-741-3777 x 2

View original content:https://www.prnewswire.com/news-releases/apple-rush-company-inc-announces-signing-of-loi-to-acquire-lena-brewing-providing-a-critical-piece-of-our-seed-to-sale-initiative-301560133.html

SOURCE Apple Rush Co., Inc.

FAQ

What does Apple Rush Company's acquisition of Lena Beverage entail?

The acquisition includes cash, non-convertible debt, and preferred shares to enhance production capabilities.

What is the expected revenue impact of the acquisition for Apple Rush?

The acquisition is projected to generate nearly $800,000 in annual revenue.

How will the acquisition affect the production of Apple Rush products?

It will allow Apple Rush to produce its products in-house, improving efficiency and control over production.

When was the letter of intent for the acquisition signed?

The letter of intent was signed on June 2, 2022.