Labor Smart, Inc. acquires up to 35% stake in innovative snack and beverage startup, expanding its footprint in the $250 billion market. This strategic move complements LTNC's LOCK'DIN line and leverages its Legacy Distribution network. CEO Tom Zarro envisions game-changing products driving substantial growth. Full details expected November.
JACKSON, WY / ACCESSWIRE / October 9, 2024 / Labor Smart, Inc. ("LTNC"), a leader in brand development, manufacturing, and distribution, is thrilled to announce the acquisition of a 25% stake, which may increase up to 35%, in a newly-formed snack and beverage company (the "Company"). Full details regarding the target Company will follow in late November, once the other party is prepared for public announcement. Transaction details will be disclosed in LTNC's Third Quarter filings, expected to be released in November. Due to the material nature of the transaction, LTNC is releasing this public disclosure in accordance with OTC Markets requirements.
This acquisition significantly expands LTNC's product portfolio and strengthens its market position in the consumer goods arena. The strategic move aligns seamlessly with LTNC's existing LOCK'DIN catalogue and leverages the robust Legacy distribution network.
The Company is developing cutting-edge snack and beverage products that will complement the LOCK'DIN beverage line. These offerings will provide customers with a diverse range of drink flavors and high-quality snacks, creating a natural synergy with LTNC's growing portfolio.
"We're thrilled to announce this strategic investment as part of our ongoing efforts to expand and diversify our product offerings," said Tom Zarro, CEO of Labor Smart, Inc. "This acquisition not only aligns perfectly with our current product lines but also reflects our broader mission to develop high-quality and delicious goods that cater to evolving consumer preferences. We believe these upcoming products have the potential to become game-changers in our space, adding substantial value to our portfolio and driving revenue growth."
Legacy Distribution, LTNC's wholly-owned subsidiary and a prominent distributor of top beverage brands, will play a crucial role in bringing these new products to market. Legacy Distribution has already proven its capabilities in transforming innovative brands into household names and is well-positioned to ensure the success of this new product across LTNC's distribution channels.
The Company is eager to share more details about the products and launch dates in the coming months as development progresses. This acquisition represents another forward step for LTNC as it continues its mission of building a robust, diversified portfolio in the beverage and snack industries.
About Labor Smart, Inc.
Labor Smart, Inc. is a leading company specializing in brand development, manufacturing, and distribution. Trading on the OTC markets under the ticker symbol LTNC, the company operates through several subsidiaries, including Illumination Holdings, Next Gen Beverages LLC, and Elevate Health & Wellness Nutraceuticals.
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Contact Information
Investor Relations
ir@laborsmartinc.com
SOURCE: Labor Smart, Inc.
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