American Rebel Holdings to Acquire Champion Safe Company
July 07 2022 - 9:00AM
American Rebel Holdings, Inc. (NASDAQ: AREB) – America’s Patriotic
Brand (the “Company”) today announced it has entered into an
agreement to acquire Utah-based Champion Safe Company, and its
ancillary companies (collectively, “Champion”). Champion is a
leading manufacturer of gun safes with an industry wide reputation
for security, fire protection, quality of finish and workmanship.
The transaction is valued at approximately $9.9 million and is
expected to add more than $20 million in revenues to American Rebel
and be accretive to net income.
Andy Ross, Chief Executive Officer of American
Rebel, commented, “We are excited to bring the Champion name into
the American Rebel family. Founded in 1999 by Ray Crosby, Champion
has three safe lines; Champion Safe, Superior Safe and Safe Guard
Security Products; which feature some of the most secure and
highest quality gun safes. We believe the companies are a natural
fit and their synergies will help us grow the brands. For example,
Champion factories already manufacture American Rebel safes. The
addition of Champion’s dealers will be a great benefit to American
Rebel. Champion has a clean balance sheet and a solid backlog of
orders already, so we’re ready to move almost immediately. We’re
looking forward to growing together.”
Doug Grau, President of American Rebel Holdings,
added, “Ray Crosby is a foundational figure in the safe business
and Champion Safe is the culmination of his 40 years in the safe
business. We are proud to continue his legacy. Our combination will
allow for expanded manufacturing to fill a significant backlog of
orders and will allow for the development of new dealer accounts.
Champion’s sizeable existing dealer base, nationwide distribution
and seniority with buying groups and trade shows should have an
immediate impact on American Rebel. The American Rebel team is very
eager to work with Ray and his team and move the company
forward.”
The acquisition is expected to close on or
before August 31, 2022, and is subject to customary approvals, the
obtaining of financing and other closing conditions.
About American Rebel Holdings,
Inc.American Rebel operates primarily as a designer and
marketer of branded safes and personal security and self-defense
products. The Company also designs and produces branded apparel and
accessories. To learn more, visit www.americanrebel.com. For
investor information, visit
www.americanrebel.com/investor-relations.
Cautionary Note Regarding
Forward-Looking Statements:
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. American Rebel Holdings, Inc.,
(NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” "American Rebel,” “we,”
“our” or “us”) desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "forecasts" "believe," "may,"
"estimate," "continue," "anticipate," "intend," "should," "plan,"
"could," "target," "potential," "is likely," "expect" and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements primarily on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy,
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include our ability to raise sufficient funds to close the
acquisition, our current reliance on a sole manufacturer and
supplier for the production of our safes, our manufacturing
partner’s ability to meet production demands, our ability to expand
our sales organization to address existing and new markets that we
intend to target, our ability to effectively compete in a
competitive industry, and the Risk Factors contained within our
filings with the SEC, including our Annual Report on Form 10-K for
the year ended December 31, 2021. Any forward-looking statement
made by us herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Readers are urged to review the Company’s Form
8-K dated July 6, 2022, which contains a copy of the Champion
Acquisition Agreement and is available free of charge on the SEC’s
website (www.sec.gov).
SOURCE: American Rebel
Holdings, Inc.
Company
Contact:info@americanrebel.com
Investor Relations:John McNamaraTraDigital
IR917-658-2605john@tradigitalir.com
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