Pivots Direction and Acquires
'Luxury' Enterprise with
$11M in 2019 Revenue
NEW YORK, NY -- October 5, 2020
-- InvestorsHub NewsWire -- Sun Kissed Industries
PINK: SKDI) ("Sun Kissed", "SKDI"), an emerging leader in
including CBD consumables, digital
content management, and online ad monetization
technology, (www.hakunasupply.com) is pleased to announce that it has acquired SFL Maven ("SFL Maven" or
"SFL"), a high-end jewelry company,( https://bit.ly/34lQgHH) in a stock-only transaction.
SFL has brought in sales
over $122 million
Carl Grant, CEO of Sun Kissed,
noted, "It is with tremendous pleasure that we welcome SFL and its founder, Joe Ladin,
and integrate SFL into the Sun Kissed family as a new wholly owned subsidiary.
a company of
substance and success, with a history of growth and market
traction, and we believe
lucrative long-term future path together in the
years ahead. Our switch to focusing on
acquisitions with substantial revenues, I believe, is going to
bring tremendous shareholder value in both the very short term as
well as in the long term."
SFL Maven has been a consistent
the high-end jewelry space. In 2019, SFL drove revenues of
$10.8 million, followed by nearly $4 million
in sales during the first half of 2020, and an extremely strong
start to the second half of the year, with robust performance in
its quarter ended September 30 where updated numbers will be
available for release shortly.
Management believes this
performance, in the face of clear headwinds resulting from the deep
economic impact of the pandemic health crisis, speaks to SFL's resilience and
fundamental positioning edge relative to its target
Joseph Ladin, founder and CEO of SFL Maven,
has been growing year on year since its incorporation in
and we are
continue to provide
value to our
extensive and discerning clientele around the globe.
That said, we know
the time has come to shift into next gear. With Sun Kissed
can accelerate our growth and deliver even greater value and
execution to shareholders. 2021 holds tremendous promise on the top
and bottom-line for SFL and Sun Kissed, and we look forward to
widening our reach and delivering first-class jewelry to a growing
About Sun Kissed
Sun Kissed Industries Inc.
emerging leader in
the development and sale of CBD consumables, digital content
management, and online ad monetization
The Company is pursuing meaningful acquisitions as part of an
aggressive M&A strategy designed to position Sun Kissed as a
dominant player in well-defined, high-growth markets within rapidly expanding
This press release may contain
forward-looking statements, including information about
management's view of Sun Kissed Industries Inc.'s future
expectations, plans and prospects. In particular, when used in the
preceding discussion, the words "believes," "expects," "intends,"
"plans," "anticipates," or "may," and similar conditional
expressions are intended to identify forward-looking statements.
Any statements made in this news release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of Sun Kissed, its subsidiaries and concepts to be
materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on Sun Kissed's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. Sun Kissed cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, Sun Kissed undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by Sun Kissed.
SOURCE: Sun Kissed