Encore Brands, Inc Signs LOI Teaming with Sago Technology, Inc. to Acquire Stake and Worldwide Rights for Top Selling Ecig Br...
24 Februar 2014 - 4:30PM
Access Wire
SANTA MONICA, CA / February 24, 2014 / ACCESSWIRE / Encore
Brands, Inc (OTC.BB:ENCB) a brand management, licensing and
development company and Sago Technology, Inc. owners of top selling
electronic cigarette brand JAK ECIG have signed an LOI to provide
Encore Brands with the worldwide rights and equity in the JAK ECIG
brand. Encore will provide Sago with all necessary resources to
grow the JAK ECIG business.
According to current IRI data, JAK is one of the top 10 selling
Ecig brands in the Chicago area with over $6 million dollars in
retail sales and has recently expanded their distribution to sell
into CA, WI, IN and NY.
As Encore begins to expand its brand management business and
execute on its business plan, the entrepreneurial make up of Sago’s
management was a good fit with Encore. With the Ecig category
literally in its’ infancy, the opportunity to work with the talent
and flawless execution of the Sago team was an outstanding
opportunity for Encore to take a position in this rapidly growing
consumer goods category.
Sighted by Citi investment banking analysts as one of the 10
technologies completely changing the world, total Ecig revenue is
expected to surpass $3 billion in 2015 with nearly a 50% compounded
annual growth rate over the last 5 years.
The JAK business will be managed by a new wholly owned marketing
and distribution subsidiary. Jack Saleh founder of the JAK brand
will become its President. The deal is expected to close before the
end of the first quarter.
Patrick Aroff and Steve McVicar were responsible for sourcing
and advising Sago and Encore on the deal.
About Sago Technology, Inc.
Sago Technology, Inc. is a Nevada corporation doing business as
JAK ECIG, producers and marketers of JAK, electronic cigarettes,
since 2011 with offices and warehouse in Rockford IL. Sago’s
mission is to produce and distribute high quality products that are
value driven for our consumers. With smokers now asking for JAK
over other brands and sales rapidly expanding into thousands of
retail locations, consumers have validated Sago’s strategy by
voting with their hard earned dollars to have, a superior smoking
experience. [TM]
http://jakecig.com/
About Encore Brands, Inc.
Encore Brands, Inc. (OTC.BB:ENCB) is a Nevada Corp. with offices
in Santa Monica, California. The company was founded with the
desire to create, acquire and license unique consumer brands. By
leveraging a network of distributors and sales people, Encore
Brands is creating and managing a brand portfolio that will be
distributed directly and through third parties domestically and
internationally.
This report includes forward-looking statements intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by phrases
such as Encore Brands or its management “believes,” “expects,”
“anticipates,” “foresees,” “forecasts,” “estimates” or other words
or phrases of similar import. Similarly, statements herein that
describe Encore Brands business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements. We urge you to carefully
consider any and all important factors that could cause actual
results to differ materially from the expectations of Encore Brands
or its management: For information contact Alex McKean at
alex@encorebrands.com
Source: Encore Brands, Inc.
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