Branded Legacy, Inc. Acquires Versatile Industries, LLC
July 17 2020 - 8:30AM
InvestorsHub NewsWire
Branded
Legacy, Inc. Acquires Versatile Industries,
LLC
Company Expands
Portfolio with Private Label Service
Longwood, FL -- July 17, 2020 -- InvestorsHub
NewsWire -- Branded Legacy, Inc. (OTCQB:
BLEG), a holding company focused on the commercial development
of hemp and cannabinoid-infused beverages along with an array of
CBD topicals and tinctures acquires Versatile Industries, LLC,
which will become the Company’s private label division.
The Company has had many inquiries into
private labeling Hemp and CBD products. Due to the high demand in
the private label sector Branded Legacy saw an opportunity to
expand its business and market share in the Hemp and CBD markets.
According to the 2019 data for CBD products, the revenues in the US
went from $620 million in 2018 to around $5 billion in 2019
according to LoudCloud Health.
Of these revenues around 11% come from CBD beverages, 18% from
topicals and 18% from capsules/tablets. (Source) With these
numbers continuing to grow, the probability for current competitors
to need to expand product lines as well as new companies needing to
develop their branded products is very high.
Versatile Industries, LLC has a mission to help
companies enter the Hemp and CBD markets by leveraging the buying
power of multiple companies. In doing this it brings lower costs
and minimum order quantities (MOQ) to our customers. The Company
believes that reducing the money that gets tied up in inventory
allows for increased marketing spend for small business owners.
Versatile Industries feels compelled to help businesses enter new
markets by limiting the cost of entry while maintaining profitable
margins, creating a recipe for long term business
partnerships.
Ryan Medico, CEO of Branded Legacy,
Inc., stated, “As the private label opportunity presented itself,
we started doing some research and figuring out what was the best
move for the Company. We spent the last year formulating and
perfecting our RTD CBD Coffees and Teas catching the attention of
our competition. Elev8 Hemp has been approached several times to
private label these CBD beverages and we are currently working on
our first deal which would bring over six figures in revenue on the
first order.”
Elev8 Hemp has made some major changes
to its CBD iced teas since its original launch early in 2019. The
Company has since upgraded its bottles to a sturdier more durable
bottle, updated its formula to a higher quality of tea used in
production and most importantly altered the method of suspension of
CBD in its beverages. This adjustment to CBD has allowed the
Company to produce much higher test results for CBD than its
competitors. In addition, Elev8 has made changes to its formula for
CBD infused iced coffees to perfect its flavor profile.
Medico concluded, “The formula change
for our CBD iced coffees will hit the market later this year. There
has been a complete overhaul of its flavor profile. Its packaging
will match that of our CBD infused teas creating flow amongst
product lines. We are extremely excited for this change and we feel
it will quickly become one of our highest grossing
products.”
About Branded Legacy: Branded Legacy, Inc. is a holding company that
specializes in hemp and CBD. Its primary focus is the commercial
development of hemp and cannabinoid-infused beverages along with an
array of CBD topicals and tinctures with a secondary focus on
acquiring manufacturing facilities/companies that can aid in the
development of its product lines. Branded Legacy is made up of two
subsidiaries, Elev8 Hemp, LLC and Zoe CBD, LLC.
About Elev8
Hemp: Elev8 Hemp’s
mission is simple: craft the highest-quality, organic hemp products
for consumers in search of a healthier, happier lifestyle. Everyone
needs to get the proper amount of healthy proteins to keep them
feeling better and more energetic. We source only the best organic
hemp protein powders—naturally full of powerhouse amino acids and
Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with
an abundance of minerals, vitamins, antioxidants and
fiber.
About Zoe
CBD: Zoe CBD focuses on the development and marketing of
the highest quality CBD products. Currently, we offer CBD
Tinctures, CBD Lotion, and a CBD Salve. Our hope is that any
product you choose will help you lead a healthier, happier
life.
Safe Harbor Statement:
The information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You can identify these statements by the use of
the words "may," "will," "should," "plans," "expects,"
"anticipates," "continue," "estimate," "project," "intend," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, delays in completing various engineering and
manufacturing programs, changes in customer order patterns, changes
in product mix, continued success in technological advances and
delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's
control.
www.brandedlegacy.com
(407) 377-6693
info@brandedlegacy.com
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