- Asset purchase of GlideBoxx patent and trademarks to bring multiple revenue synergies as XFit Brands markets GlideBoxx globally
- Leverages XFit Brands global sourcing and supply chain to substantially reduce costs, while expanding to Gym outlets worldwide
LAKE FOREST, CA / ACCESSWIRE / October 11, 2016 / XFit Brands, Inc. (OTCQB: XFTB), a global supplier of fitness and MMA equipment sold at retail and fitness outlets worldwide whose brands include Throwdown® and Transformations™, today announced that it has completed an asset purchase of 100% of GlideBoxx, LLC, including their sports training system, equipment, and all Company patents and trademarks in a stock and royalty consideration transaction.
Video Link of GlideBoxx live in XFit Brands, Inc. Showroom:
https://xfitbrands.com/glideboxx-sports-training-system
GlideBoxx has become recognized as one of the leading-edge innovations in the martial arts and combat sports industry. It is a breakthrough dynamic movement system that changes the way an individual may train for self-defense, fitness, or competition. GlideBoxx is a patented, user-powered training system designed for individuals at any skill level to provide a more intense and realistic experience that promotes technique and dramatically increases cardiovascular conditioning. The GlideBoxx system is a 72" x 48" frame designed with reinforced, structural aluminum and precision linear bearing technology. This frame can be bolted to a ceiling joist or any number of the numerous Throwdown free standing structures and enables a heavy bag up to 150 lbs. to travel randomly within a dynamic zone. XFit Brands, Inc. intends on selling the GlideBoxx system direct to consumers and through its network of existing business-to-business sales relationships in more than 20 countries around the world.
Gabe Miller, owner of GlideBoxx commented, "We are so excited for XFit Brands to take GlideBoxx global. Like many small companies in the fitness industry, we neither had the infrastructure nor the resources to capture GlideBoxx's full potential. With XFit's manufacturing network and supply chain they will be able to substantially reduce product and shipping costs, and capture substantial increased sales leveraging their relationships with the major health and fitness operators worldwide that on our own we could never dream of doing."
XFit Brands recently announced its annual financial results with its 4th consecutive year of double-digit revenue growth with an improvement in gross margin to 43.8% of net sales, which represents an improvement of 66% versus prior year. The Company has been expanding rapidly by executing its one-stop-shop strategy for major health and fitness club operators around the world. As such, XFit Brands recently further expanded to five additional countries internationally bringing its international division to more than 40% of the Company.
David Vautrin, Chief Executive Officer of XFit Brands, commented, "We are very pleased to have completed this acquisition and added GlideBoxx to our increasingly broad portfolio of products for the impact sports industry. The GlideBoxx is a brilliant invention and we intend to capitalize on it's global potential with health clubs, direct to consumer and in other applications to be launched in the future. Customers are already asking for it and we see tremendous revenue synergies coming from the purchase."
About XFit Brands®
XFit Brands, Inc. known for its experiential fitness products, is one of the leading suppliers of functional fitness brands, products, and equipment sold at retail and fitness outlets worldwide. The company provides a full portfolio of products and services spanning Mixed Martial Arts and other high and low impact fitness regimes and owns the trademarks Throwdown® trademark registered in 30 countries for its Functional Fitness line and its MMA portfolio, and Transformations® in programming and now the GlideBoxx® brand and sports training system patent. The company's portfolio of brands and products are sold in many countries around the world and supply many of the leading Gym and Fitness outlets throughout the United States. The Company's websites are www.XfitBrands.com, www.Throwdown.com and www.GlideBoxx.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of XFit, including statements regarding XFit's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. XFit Brands competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission may affect the Company's operations. Unless required by applicable law, XFit undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries please contact:
Scott Cameron
[email protected]
(949) 916-9680
Websites:
www.XFitBrands.com
www.Throwdown.com
www.GlideBoxx.com
SOURCE: XFit Brands, Inc.