STOCKHOLM, SWEDEN / ACCESSWIRE / April 2, 2024 / STRAX (STO:STRAX)(FRA:NOBC) has entered into an Assets Purchase Agreement with Matter Brands, LLC, formerly Alara Inc, to divest the brands Clckr, Jewel and Fundamental as well as key customer contracts and the majority of the US organization. Matter Brands, LLC has a strong portfolio of brands including Gadget Guard as a category leader in screen protection, Atom Studios as a category leader in design and sustainability, as well as Alara Technologies, an industry leader holding several global patents in the field of EMF protection. Matter Brands, LLC is paying for the assets by issuing new shares corresponding to a total of 40 percent of outstanding shares in Matter Brands, LLC.
The organizations as well as the customer base complements each other well with few or no overlaps. The combined organization, brands and capabilities will immediately put Matter Brands, LLC in a very strong position to bring value added products and services to retailers and consumers in the Americas.
Matter Brands, LLC will continue to sell and distribute Urbanista and Planet Buddies to select customers in the Americas.
"We have built a quite unique position in the US market with access to the major customers in the US over more than 20 years. With the combined organization and a complete portfolio of Brands, Matter Brands, LLC will be able to fully capitalize on the position and we are very excited to make such a strong partnership" says Ingvi Tomasson, Chairman of STRAX AB.
About Matter
Matter is a portfolio of premium tech accessories designed to improve the relationship between humans and their tech. The company is focused on protecting devices from their people, people from their devices and protecting the world from our waste. Our products are made of innovative materials and technology as well as cutting edge design. Our portfolio is made of authentic and purpose driven brands. We believe in trusted relationships with our consumers, retailers, and distributors. And we focus on top tier operations as well as excellence across our digital experiences. Our brands include Alara, phone cases that reduce exposure to potentially harmful electromagnetic fields; Atom Studios, industry-leading tech accessories rooted in sustainability, design and performance; CLCKR, phone cases made with G-Form and Gadget Guard, screen protectors made with innovative science.
For further information
For further information please contact Ingvi Tomasson, Chairman of the Board and co-founder, STRAX AB,
+354 698 2277.
About STRAX
STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory brands and categories: Protection, Power, Connectivity, as well as Personal Audio. Own brands are Clckr, Planet Buddies and RichmondFinch. Our brands reach a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers.
Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand business. Today we have approximately 90 employees in 6 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.
Divested own brands consist of Urbanista and Gear4.
Discontinued operations include Health & Wellness and licenced brand portfolio of adidas and Diesel.
This information is information that STRAX is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-02 19:20 CEST.
Attachments
Divests Clckr, Jewel and Fundamental brands along with customer contracts in the US.
SOURCE: STRAX