Denver, COLORADO, January 9, 2024 (PR NEWSWIRE) – via OTC Markets – NxGen Brands, Inc. (OTCMKTS: NXGB) (“NxGen” or the “Company”), (www.nxgenbrands.com) successfully closes its “Mad House Innovations” acquisition. Mad House enjoyed explosive growth in 2023 and we invite the investment community to visit their corporate website to familiarize themselves with their exciting brand: “Mad House Innovations” (www.madhousesupps.com)
Mad House enjoyed $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exponentially exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships. The company believes that their cutting edge direct-to-consumer business model can be grown significantly throughout 2024 with the addition of marketing capital that NxGen is forecast to spend.
The Company recently announced that Mad House had licensed its products throughout Australia and New Zealand in a deal that is expected to net significant revenues this year as the brand picks up recognition throughout that market with its now emerging and very distinctive branding.
Joseph Lawanson, CEO of NxGen, stated “Our brand boasts products such as ‘High dosed Pre-workout’, incredibly effective Amino's, high-end testosterone, hardcore pump product and a great fat burner to provide you with an idea of our exciting product suite. With our now established presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is now firmly established in an upward trajectory, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to start sharing our month-over-month revenue growth with shareholders.”
NxGen recently announced that it had already completed on its first roll-up by acquiring ‘Storm Lifestyle Brands’ (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.
About NxGen Brands, Inc
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.comhttps://twitter.com/NxGen_Brands
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.