CEA Industries Inc. has announced its intention to acquire a leading specialty retailer and manufacturer, known as "the Target." The Target has over 30 retail locations and a portfolio of trademarks and intellectual property. CEA Industries plans to use its strong balance sheet to expand the Target's retail presence and grow its manufacturing of house brand and white-label products. A non-binding letter of intent has been signed with a definitive agreement expected before the end of the year, and the completion of the acquisition targeted for the first quarter of 2025. The acquisition terms include cash, common shares of CEA Industries, and debt, with the transaction subject to ongoing evaluation, due diligence, regulatory compliance, finalization of audited statements, negotiations on final acquisition terms, and various pre-closing conditions. The company has issued a press release regarding the potential acquisition.
Names mentioned: - CEA Industries Inc. - Anthony K. McDonald