Acquisition Accelerates Company Entry into Global Luxury and Lifestyle Market
LAS VEGAS, NEVADA, December 08, 2021 (GLOBE NEWSWIRE) – Global A Brands, Inc. (GAB), a multinational corporation that acquires and develops early stage luxury and lifestyle businesses, announced today hui the acquisition of a private Swiss holding company VIRDI UNIT SA, which houses exclusive luxury brands, including a range of synthetic CBD-based skin care products, Virisens. The acquisition represents a strategic move to further strengthen GAB’s position as an emerging brand house with a focus on consumer product offerings, which include cosmetics, wellness products, alcohol and vertical games. The acquisition includes approximately $ 3.8 million of inventory and approximately $ 1 million of cash equivalent, which will be consolidated into GAB’s balance sheet.
“Virisens is a pioneer in synthetic CBD cosmetology and offers a full line of body and skin care products whose main active ingredient is pure CBD complex and which partly distinguishes itself by avoiding the use of chemicals. endocrine disruptors (EDC) while relying on vegan and clinical products. ingredients tested, ”commented Manny A. Lopez, CEO of Global A Brands. “The brand represents the movement towards clean beauty using the benefits of CBD cosmetology for its potent anti-aging and antioxidant properties. We are excited to introduce Virsens to the US market as we expand our geographic footprint with safe and clean beauty products. The acquisition of Virisens and its carefully researched cosmetics line once again demonstrates our focus on organic and clean beauty, which is a thriving and growing market.
“We are actively engaged in discussions with US retailers to showcase Virisens products,” he added, “as well as working to relaunch our e-commerce marketing portal to sell direct to consumers. We envision this product line, with its enormous opportunity for geographic expansion, to provide strong prospects for accelerating our brand image and profitability. “
About Global A Brands Global A Brands, Inc. (GAB) is a multinational corporation that acquires and develops start-ups in the luxury goods and lifestyle market segments. GAB controls ten subsidiaries which are each managed independently under the Company’s four divisions, Alcohols, Cosmetics, Distribution and Games.
The company’s model is built around a long-term vision to create a portfolio of sustainable, premium, consumer-focused, creative, unique and competitive products in their industry. GAB provides a framework for each brand to have independent creative and managerial control while working synergistically and sharing resources together to create, produce and market their products and improve shareholder value.
For more information on Virisens, visit: https://www.virisenslab.com/en/ For more information on Global A Brands, visit: https://www.globalabrands.com
Safe Harbor Statement This press release contains forward-looking statements made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date of this press release, and we will not provide necessarily updates to our projections or other forward-looking statements. Investors are cautioned that these forward-looking statements of Global A Brands are subject to many risks and uncertainties, and may differ materially or negatively from our actual results or future events. Some risk factors can be, but not limited to: consumer commitment to the brand, negative reaction to the ad, market volatility, etc. Additional risks and factors that may affect results are set out in our filings with the Securities and Exchange Commission on Form 10-K. We are committed to publicly revising or updating any forward-looking statement for any reason.
Manny Lopez Company Information [email protected]
Media Jessica Starman 888-461-2233 [email protected]elev8newmedia.com
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