Encore Brands, Inc Signs LOI Teaming with Sago Technology, Inc. to Acquire Stake and Worldwide Rights for Top Selling Ecig Brandadmin
SANTA MONICA, CA / February 24, 2014 / ACCESSWIRE / Encore Brands, Inc (OTC.BB:ENCB) a brand management, licensing and development company and Sago Technology, Inc. owners of top selling electronic cigarette brand JAK ECIG have signed an LOI to provide Encore Brands with the worldwide rights and equity in the JAK ECIG brand. Encore will provide Sago with all necessary resources to grow the JAK ECIG business.
According to current IRI data, JAK is one of the top 10 selling Ecig brands in the Chicago area with over $6 million dollars in retail sales and has recently expanded their distribution to sell into CA, WI, IN and NY.
As Encore begins to expand its brand management business and execute on its business plan, the entrepreneurial make up of Sago’s management was a good fit with Encore. With the Ecig category literally in its’ infancy, the opportunity to work with the talent and flawless execution of the Sago team was an outstanding opportunity for Encore to take a position in this rapidly growing consumer goods category.
Sighted by Citi investment banking analysts as one of the 10 technologies completely changing the world, total Ecig revenue is expected to surpass $3 billion in 2015 with nearly a 50% compounded annual growth rate over the last 5 years.
The JAK business will be managed by a new wholly owned marketing and distribution subsidiary. Jack Saleh founder of the JAK brand will become its President. The deal is expected to close before the end of the first quarter.
Patrick Aroff and Steve McVicar were responsible for sourcing and advising Sago and Encore on the deal.
About Sago Technology, Inc.
Sago Technology, Inc. is a Nevada corporation doing business as JAK ECIG, producers and marketers of JAK, electronic cigarettes, since 2011 with offices and warehouse in Rockford IL. Sago’s mission is to produce and distribute high quality products that are value driven for our consumers. With smokers now asking for JAK over other brands and sales rapidly expanding into thousands of retail locations, consumers have validated Sago’s strategy by voting with their hard earned dollars to have, a superior smoking experience. [TM]
About Encore Brands, Inc.
Encore Brands, Inc. (OTC.BB:ENCB) is a Nevada Corp. with offices in Santa Monica, California. The company was founded with the desire to create, acquire and license unique consumer brands. By leveraging a network of distributors and sales people, Encore Brands is creating and managing a brand portfolio that will be distributed directly and through third parties domestically and internationally.
This report includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Encore Brands or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe Encore Brands business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. We urge you to carefully consider any and all important factors that could cause actual results to differ materially from the expectations of Encore Brands or its management: For information contact Alex McKean at firstname.lastname@example.org
Source: Encore Brands, Inc.
Posted: February 24th, 2014 under ACCESSWIRE.