Friday 25 November 2022

Israeli e-commerce company Jeffs' Brands Ltd (NASDAQ: JFBR), operating on the Amazon Marketplace, has signed a non-binding term sheet with a company incorporated in England engaged in the sale of pest control products through Amazon.uk to target the USD 2bn pest control products market, the company said.

As contemplated by the Term Sheet, Jeffs' Brands will acquire the UK company and its five private label brands, currently being sold on Amazon.uk, for approximately USD 2.5 m in cash.

The UK company generated approximately USD 6.2m in revenues in 2021 with gross profit margins of 21% (un-audited results). Currently the UK company's brands and products have over 55,000 reviews, 82% of which are 4- and 5-star reviews.

The acquisition is subject to, among other matters, a due diligence review by Jeffs' Brands and the negotiation and execution of a binding definitive agreement.

Jeffs' Brands Ltd creates and acquires products and turns them into market leaders, tapping into vast, unrealised growth potential.