Asset valued at $53 million by a third party Valuation firm
Jupiter Wellness, Inc. (Nasdaq: JUPW), a diversified company that supports health and wellness, today announced it has executed an Asset Purchase Agreement with GBB Drink Lab Inc.. As per the Agreement, all operating assets related to GBB Drink Lab, including the revolutionary Safety Shot beverage, will belong to Jupiter Wellness, Safety Shot creates a new product category for rapid alcohol detoxification in the fast-growing hangover remedy market. Safety Shot is protected by a number of issued and pending patents covering composition of matter and methods of use.
Created by a doctor and validated by research, Safety Shot helps your body break down alcohol faster while aiding in recovery and rehydration. The product is formulated with scientifically proven ingredients that stop your body from absorbing alcohol into your blood, reducing your Blood Alcohol Content (BAC) and getting you out of an intoxicated state.
Consumers are now more aware of the benefits associated with the consumption of hangover cure products, which help improve metabolism, reduce nausea caused due to excessive alcohol consumption, and can hydrate the body.
The global hangover cure products market size is expected to reach USD 4.67 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.6% from 2021 to 2028.
The Safety Shot business segment alone is forecasted to produce approximately $25 million in revenues and $4 million in net income by first quarter of 2024 for Jupiter Wellness with accelerated top and bottom-line contributions thereafter. There can be no assurances that we will reach such sales levels or profits. Jupiter Wellness believes that it is well-funded and has the capability to take the purchased patents and provisional patents from the Company and bring them to market. Jupiter will deploy a multi-channel strategy designed to dominate e-commerce and quickly win retail shelf space.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.