Jeffs' Brands Acquires UK Pest Control Company For $2.5M Cash - Jeffs Brands (NASDAQ:JFBR)

Jeffs' Brands Ltd JFBR has entered into a non-binding term sheet with a company incorporated in England engaged in the sale of pest control products (the UK Company).
Jeffs' Brands will acquire the UK Company and its five private label brands, currently being sold on Amazon.Com, Inc. NASDAQ: AMZN) Amazon.uk, for about $2.5 million in cash.
The UK Company generated about $6.2 million in revenues in 2021.
“Currently, the UK Company focuses its marketing and sales on Amazon.uk, and it is our intention to expand the brands' reach by launching its products in new territories and platforms," said CEO Viki Hakmon.
According to ResearchDive, the global rodent control market accounted for about $3.20 bllion in 2020 and is predicted to grow with a CAGR of 4.9%, with revenue of $4.65 billion by 2028.
Price Action: JFBR shares are trading lower by 13.35% at $1.72 on the last check Wednesday.