Last week Labor Smart, Inc. (OTC PINK: LTNC) announced a significant move to execute their growth plans with an LOI to acquire Illumination Holdings, Inc. This planned acquisition is set to turn LTNC into a powerhouse in the beverage and snack industry by combining LTNC's celebrity and athletic partnerships with Illumination Holdings' robust distribution network, which generated $30 million in revenue last year alone with over 5,000 locations in Colorado, Southern Wyoming, and South Dakota.
The leadership integration is a critical aspect of this LOI. Brad Wyatt, CEO of Illumination Brands, Inc., will join the LTNC Board of Directors and serve as Co-CEO alongside Tom Zarro, the current CEO of Labor Smart, Inc. This collaborative leadership approach is designed to ensure a smooth transition and leverage the expertise of both leaders during a 3-6 month integration period. Tom Zarro will continue as Chairman of the Board, and Scott Darnell, currently Chief Strategy Officer of Illumination Holdings, Inc., will assume the same role at LTNC and join the Board of Directors.
Key highlights of the planned acquisition include the Legacy Distribution Group, which brings over 175 years of experience in beverage and snack distribution; the Aspen Pure Water brand, which has significant sales and distribution in Colorado; and exclusive distribution rights for high-profile brands such as Xing Tea, Go Fast, Aspen Pure, Rap Snacks, Karma, Recover 180, Cock n Bull, Jones Soda, Brew Dr. Kombucha, and GOAT Fuel Energy.
When finalized, this acquisition is expected to accelerate Labor Smart's business plans by several years. The combination of LTNC's innovative product lineup and Illumination Holdings' established distribution channels will create a formidable entity in the beverage and snack sector. The addition of top talent from Illumination Holdings to LTNC's leadership team is anticipated to open new opportunities for the company's LOCK'DIN Brand of performance beverages.
As part of the planned acquisition, LTNC will issue a mix of restricted common and preferred shares to Illumination Brands, Inc. to complete the acquisition. A significant portion of these shares will be performance-based, tied to the achievement of specific milestones. This acquisition is anticipated to be the first of several, setting the stage for continued growth and expansion.
Disclaimer: The information provided here is for general informational purposes only and is not intended to be a comprehensive analysis of the subjects mentioned. All information, opinions, and forecasts contained herein reflect the author's personal views at the time of writing and are subject to change without notice. This information should not be construed as investment advice, a recommendation, or an offer to buy or sell any securities or related financial instruments. Investors should conduct their own research or consult with a qualified financial advisor before making any investment decisions. The author and publisher of this content are not responsible for any losses, damages, or other consequences that may result from the use of the information provided. Investing in stocks, including those mentioned here, involves risks, including the risk of loss. The author of this post is entirely unaffiliated with the company and furthermore is not an investor in LTNC.