Grove Inc. Expands into the Programmatic Advertising Technology Sector with Acquisition of Interactive Offers and its SaaS Advertising Platform
August 19 2021 - 8:30AM
via NewMediaWire -- Grove Inc. (the “
Company” or
“
Grove”) (NASDAQ: GRVI), the Nevada based BRAND
and CBD company, looking to add a key Technology Division to its
strategic businesses, announced the signing of a Letter of Intent
for the acquisition of Boca Raton, Florida based Interactive
Offers. Interactive Offers provides programmatic advertising with
its
SAAS platform and has served the FinTech space
with great success over the last several years. The
SAAS platform allows for programmatic ad placement
automatically on any partners’ sites from a simple dashboard.
The addition of Interactive Offers’ SAAS platform is expected to
significantly improve Grove’s product sales and CBD Brand business
in addition to providing a profitable, stand-alone technology
division and in-house ad service platform. Interactive
Offers’ current growing revenue stream includes dedicated emails,
native, programmatic and display advertising across some of the
largest publications and offers a one-stop shop advertising
solution to Grove’s growing client base. The platform and
advertising advantage Grove adds with this transaction gives it the
ability to scale its most recent VitaMedica acquisition and any
additional brands acquired going forward. The contemplated
acquisition is expected to be completed within the next 30 days
pending completion of due diligence and definitive
agreements.
Allan Marshall, Chief Executive Officer of Grove, stated,
“Interactive Offers has a brilliant platform, development team, and
management. When it comes to SaaS, they check off every box,
creating a streamlined process for advertisers and publishers
alike. The technology is set up and designed for ease of use and
efficiencies in deliverability and reporting across email, native
ads, and display. It not only fills a void for our brands but gives
all of our clients a unique ad platform that they can take
advantage of immediately. With the new revenue accretive Adtech
Technology division we will look to grow our current Brands and
additional Brands we acquire in the future. Along with partnerships
for advertising resources it made sense for us to acquire our own
platform for future growth in Brands and the Advertising vertical
itself.”
Strategic Highlights
The contemplated acquisition adds a Technology Segment to our
growing business while expanding the current, stand-alone
programmatic business. Both businesses will grow while adding
significant value to our shareholders and more services for our
customers.
- Business Synergy
- Interactive Offers SaaS Platform expansion into the Hemp and
Cannabis space and fills the needed advertising void for Grove to
grow product sales for our Brands and Partner brands.
- Interactive Offers business grows through access to Grove’s
clients who need advertising partners and a full-service SaaS
platform.
- Interactive Offers technology development team will handle all
planned development of the CBD.IO platform to become an industry
leader of CBD sales for brands.
- SAAS Technology in the Adtech vertical will allow Grove to
boost any Brand launched or purchased in the future.
- Value Proposition
- SaaS Advertising Platform allows us to enter a rapidly growing
vertical into which Grove had planned to expand.
- Interactive Offers will expand and grow revenues by entering a
market un-serviced by major ad networks.
- Grove’s clients have access to the platform as an additional
service available along with manufacturing, trade shows, product
development and order fulfillment.
- Interactive Offers profitable technology business adds to
Grove’s strong revenue growth, both top and bottom line.
About Grove
Grove, Inc. is in the business of developing, producing,
marketing and selling raw materials, white label products and end
consumer products containing the industrial hemp plant extract,
Cannabidiol (“CBD”). The Company sells to numerous consumer markets
including the botanical, beauty care, pet care and functional food
sectors. It seeks to take advantage of an emerging worldwide trend
to re-energize the production of industrial hemp as well as
vitamins and to foster its many health and wellness uses for
consumers.
About Interactive Offers
Interactive Offers is a full-scale, SaaS advertising platform
that creates a streamlined process for advertisers and publishers.
From dedicated emails to native and display advertising across some
of the largest publications, the company offers a one-stop shop for
advertising solutions. Publishers monetize their data and have a
full list of advertisers waiting to pay. Advertisers simply choose
which publication they’d like to work with, set their budget, and
then the technology takes over, with accurate reporting and account
specialists guiding businesses along the way to assure KPI’s are
met.
Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
business strategy, product development, integration and synergies
of acquiring companies and personnel. These forward-looking
statements are made as of the date of this news release, and we
assume no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe
that the beliefs, plans, expectations and intentions contained in
this press release are reasonable, there can be no assurance that
such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our registration statement on Form S-1 and other
periodic reports filed from time-to-time with the Securities and
Exchange Commission.
Company Contact
Andrew NorstrudEmail: investorinfo@cbd.ioPhone: (702)
332-5591
Investor Relations Contact
TraDigital IRJohn McNamaraEmail: john@tradigitalir.comPhone:
(917) 658-2602
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