- American Rebel Holdings Inc AREB has agreed to acquire Utah-based Champion Safe Company and its ancillary companies, in a transaction valued at $9.9 million.
- Founded in 1999 by Ray Crosby, Champion is a manufacturer of gun safes and has three safe lines; Champion Safe, Superior Safe, and Safe Guard Security Products.
- The deal is expected to add more than $20 million in revenues to American Rebel and be accretive to net income.
- The transaction is expected to close on or before August 31, 2022.
- "Champion's sizeable existing dealer base, nationwide distribution, and seniority with buying groups and trade shows should have an immediate impact on American Rebel," said Doug Grau, President of American Rebel.
- Price Action: AREB shares are trading higher by 80.58% at $1.38 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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