TAAT ™ Enters into Agreement to Acquire Ohio-Based Distributor with Net revenues of $87 million
Channel: RICH TV LIVE
Date: 2022-03-01

TAAT ™ Enters into Agreement to Acquire Ohio-Based Distributor with Net revenues of $87 million - RICH TV LIVE - March 1, 2022 - #taat #news #richtvlive #ceo #setticoscarella 
TAAT ™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT ™ ”) is pleased to announce that it has entered into an agreement dated Friday, February 25, 2022 to acquire HLND Holdings, Inc. (“HLND”), the parent entity of a convenience and tobacco wholesaler based in Ohio. HLND presently maintains a network of more than 5,000 convenience stores through its direct and indirect relationships with independent and corporate retailers as well as a network of regional sub-distributors. From 2019 to 2021 HLND realized at least 10% growth of its net revenues each year, with net revenues for calendar 2021 amounting to CAD $87,181,400.32 (approximate conversion from USD as at February 23, 2022), and continues to be profitable. The Company anticipates that by acquiring HLND it could fortify its existing revenue sources as well as its portfolio of assets as TAAT™ continues to expand both in the United States and internationally.
With its agreement to acquire HLND, the Company is embarking on a journey in which it plans to convert certain aspects of its supply chain into wholly-owned internal business units, which aligns with the practices of current leaders in the global tobacco industry. With HLND’s seasoned executive team and personnel in sales, logistics, and product development, the Company can leverage these invaluable skill sets as part of commercializing TAAT™ products on a larger scale.

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f5840231-aae7-491d-b6c8-d2864802541b

The Company has entered into an agreement to acquire HLND, which will provide TAAT™ with its own wholesale presence in the Great Lakes region of the United States. HLND operates a long-established convenience distribution network in categories to include tobacco, snacks, candy, and various other convenience products.

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HLND has aggressively expanded its footprint in the Great Lakes region of the United States, which can add to the Company’s overall presence with its first owned facility and distribution network in the northeastern region of the country. Besides TAAT™ and leading brands of tobacco cigarettes ( e.g. , Marlboro, Newport, Camel), HLND also carries a selection of consumer packaged goods (“CPG”) oriented towards the convenience segment such as candy, snacks, beverages, and paper products. Additionally, HLND already stocks a diverse range of alternatives to tobacco cigarettes such as e-cigarettes and vaping cartridges, which the Company intends to complement with its heat-not-burn offering as detailed in its February 18, 2022 press release. Since 2019, HLND’s net revenues have seen “double-digit” growth ( i.e. , growth of 10% or more) year-over-year (“YoY”) as shown in the table below.

Year HLND Net Revenues
2018 $54,134,739.20
2019 $60,181,829.12 (+11.17% YoY)
2020 $78,629,344.00 (+30.65% YoY)
2021 $87,181,400.32 (+10.87% YoY)
All figures in this table are expressed in Canadian dollars (CAD) as approximate conversions from United States dollars (USD) as at February 23, 2022

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