(“Sleipnir”), a UK health and wellness multi-brand portfolio entrepreneurial company with products in superfood teas, skin care and beauty. The transaction is expected to close before the end of this month.
“We are excited to continue to strengthen our branding and global reach capabilities with the strategic acquisition of Sleipnir,” stated Abis Hussain, Chief Marketing Officer of Relevium.
The acquisition is expected to be accretive immediately in terms of its current revenue base which adds initially $500,000 USD to the consolidated topline of the Company while positioning Relevium for growth in the European market. Sleipnir is expected to spearhead all of the Company’s European expansion activities including the introduction of its CBD brand, LeefyLyfe™.
“The acquisition of Sleipnir Nutrition Ltd. represents the second transaction after the completion of the acquisition of Bioganix® approximately 16 months ago. Now that we have re-positioned the Bioganix® brand and built the infrastructure for growth, we are ready to resume our M&A strategy. Sleipnir represents an exciting opportunity in terms of brand extension, product diversification and European positioning,” stated Aurelio Useche, CEO of Relevium.
The Acquisition of Sleipnir
Broadens and deepens Relevium’s digital marketing, branding and sourcing.
Expands brand portfolio with Coco Smile®, Love Superfood Teas®, Nakd Beauty® and Health Collective™
Adds new revenue streams, four brands and local presence in the European market
Brings strategic new audience and customers across several countries.
Sleipnir Founder and President Holly Llewellyn joins Relevium in a key leadership role.
The total value of the transaction is estimated to be US$397,725 including $US35,000 in cash at closing, a balance of sale of US$100,000 paid in shares (S$50,000 paid six months after closing and US$50,000 paid twelve months after closing) and debt assumption of US$262,725.
“I am thrilled to join the Relevium team, which gives us the leverage to expand our brands and exciting product lines in the UK and Europe. The addition of LeefyLyfe TM opens the door to exciting product innovation across our brands; this transaction accelerates our collective opportunities for continued growth and success within the Health and Wellness ecosystem,” stated Holly Llewellyn, Founder of Sleipnir Nutrition Limited.
The transaction is subject to regulatory approval by the TSX Venture Exchange.