Green Leaf Innovations, Inc. Completes Acquisition of SOFLO Wholesaler Group, Inc.
Rhea-AI Summary
Green Leaf Innovations, Inc. (OTCPK:GRLF) has successfully acquired SOFLO Wholesaler Group, Inc., a significant milestone for the company's growth strategy. SOFLO, known for distributing top-rated cigars, serves over 400 locations across various sectors. The acquisition adds substantial revenue and assets to Green Leaf Innovations, including SOFLO's product portfolio and distribution channels.
In 2023, SOFLO reported revenues of $2.3 million with projected growth for 2024. This acquisition strengthens Green Leaf's presence in the premium cigar market both domestically and internationally. The company will now operate SOFLO's flagship brands, including EL MAGO CIGARS, MAL.CRI.AO., and EL CUBANO CIGARS.
Roberto Mederos, CEO of Green Leaf Innovations, expressed enthusiasm about the acquisition, emphasizing its potential to drive sustained growth and open new opportunities in the premium cigar market.
Positive
- Acquisition of SOFLO Wholesaler Group adds substantial revenue and assets to Green Leaf Innovations
- SOFLO reported revenues of $2.3 million in 2023 with anticipated growth for 2024
- Expansion of product portfolio and distribution channels in the premium cigar market
- Access to SOFLO's customer base of over 400 locations across various sectors
- Strengthened presence in both domestic and international markets
Negative
- None.
News Market Reaction – GRLF
On the day this news was published, GRLF declined 50.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company Anticipates Significant Revenue Growth Following Benchmark Acquisition
PEMBROKE PINES, FL / ACCESSWIRE / September 30, 2024 / Green Leaf Innovations, Inc. (OTCPK:GRLF), a Florida corporation and an emerging growth company specializing in the marketing and distribution of handmade premium cigars, is excited to announce the successful completion of its acquisition of SOFLO Wholesaler Group, Inc.
This milestone represents a key benchmark for Green Leaf Innovations, positioning the company for significant growth over the coming year. The SOFLO acquisition adds substantial revenue and assets to Green Leaf Innovations. The product portfolio owned by SOFLO, along with their distribution channels will now be operating under Green Leaf Innovations, strengthening our presence in the premium cigar market both domestically and internationally. Some of the flagship brands manufactured and distributed by SOFLO include EL MAGO CIGARS, MAL.CRI.AO. and EL CUBANO CIGARS among other well established brands.
SOFLO Wholesaler Group, Inc., known for distributing the #1 rated cigars among the Top 30 in the industry. SOFLO serves over 400 locations across a variety of sectors including smoke shops, convenience stores, cigar lounges, vape stores, duty-free shops and cigar distributors. The acquisition reinforces Green Leaf Innovations' commitment to expanding its market presence and delivering high-quality products to cigar lounges, smoke shops, and international markets. In 2023, SOFLO reported revenues of
Roberto Mederos, CEO of Green Leaf Innovations, Inc., commented, "The completion of this acquisition marks a pivotal moment in our company's evolution. SOFLO's reputation as a leader in the cigar industry, combined with Green Leaf's strategic vision, will drive sustained growth and open new opportunities in the premium cigar market. We are thrilled to welcome SOFLO into our family and look forward to the value this partnership will deliver to both our shareholders and customers."
Green Leaf Innovations remains focused on delivering long-term value and growth. The company will continue to provide updates and other milestones as it progresses through this transformative period.
About Green Leaf Innovations, Inc.
Green Leaf Innovations, Inc., a Florida corporation, is an emerging growth company engaged in the Marketing and Distribution of handmade premium cigars. The company strategically imports and exclusively distributes some of the best known premium cigar brands in the Market created by the Mederos family a Third generation Cigar maker with Robert Mederos at the helm who has owned and operated handmade cigar operation in Nicaragua and the US for over 20 years with a rich family history in the craft dating back to the 1800s Cuba, brands such as CUBANACAN, MEDEROS and TABACALERA SERRANO. In addition to it the company also distributes packaged whole leaf Tobacco to cigar lounges, smoke shops, C-stores and vape shops across the United States and soon International Markets.
Additional information can be found on our websites http://www.greenleafinnovation.com or follow us on Twitter
For more information, press only:
Phone number: (800) 303-6268
Email: info@greenleafinnovation.com
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.
Contact Information
RYAN MEDICO
MARKETING MANAGER
info@greenleafinnovation.com
8003036268
SOURCE: Green Leaf Innovations, Inc.
View the original press release on accesswire.com
FAQ
What is the significance of Green Leaf Innovations (GRLF) acquiring SOFLO Wholesaler Group?
How much revenue did SOFLO Wholesaler Group report in 2023?
What are some of the flagship brands that Green Leaf Innovations (GRLF) will now operate after the SOFLO acquisition?
How many locations does SOFLO Wholesaler Group serve?
