New York, New York–(Newsfile Corp. – October 5, 2020) – Sun Kissed Industries Inc. (OTC PINK: SKDI) (“Sun Kissed”, “SKDI”), an emerging leader in diverse sectors including CBD consumables, digital content management, and online ad monetization technology, (www.hakunasupply.com) is pleased to announce that it has acquired SFL Maven (“SFL Maven” or “SFL”), a high-end jewelry company,( https://bit.ly/34lQgHH) in a stock-only transaction. SFL has brought in sales of over $122 million since 2004.
Carl Grant, CEO of Sun Kissed, noted, “It is with tremendous pleasure that we welcome SFL and its founder, Joe Ladin, on board and integrate SFL into the Sun Kissed family as a new wholly owned subsidiary. SFL is a company of substance and success, with a history of growth and market traction, and we believe we can launch a bright and lucrative long-term future path together in the years ahead. Our switch to focusing on acquisitions with substantial revenues, I believe, is going to bring tremendous shareholder value in both the very short term as well as in the long term.”
SFL Maven has been a consistent performer in the high-end jewelry space. In 2019, SFL drove revenues of $10.8 million, followed by nearly $4 million in sales during the first half of 2020, and an extremely strong start to the second half of the year, with robust performance in its quarter ended September 30 where updated numbers will be available for release shortly.
Management believes this performance, in the face of clear headwinds resulting from the deep economic impact of the pandemic health crisis, speaks to SFL’s resilience and fundamental positioning edge relative to its target market.
Joseph Ladin, founder and CEO of SFL Maven, added, “SFL has been growing year on year since its incorporation in 2004, and we are extremely proud to continue to provide value to our extensive and discerning clientele around the globe. That said, we know the time has come to shift into next gear. With Sun Kissed involved, we believe we can accelerate our growth and deliver even greater value and execution to shareholders. 2021 holds tremendous promise on the top and bottom-line for SFL and Sun Kissed, and we look forward to widening our reach and delivering first-class jewelry to a growing global marketplace.”
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTC PINK: SKDI) is an emerging leader in the development and sale of CBD consumables, digital content management, and online ad monetization technology. The Company is pursuing meaningful acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in well-defined, high-growth markets within rapidly expanding sectors.
This press release may contain forward-looking statements, including information about management’s view of Sun Kissed Industries Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65200