SinglePoint to Acquire ProActive Nutra, Herbal Cleansers and Award-Winning Mushroom Formulations
SinglePoint to Acquire ProActive Nutra, a GMP-Certified, FDA-Compliant Manufacturing Facility Producing CBD, Herbal Cleansers and Award-Winning Mushroom Formulations
SinglePoint Inc (OTCQB ticker symbol SING) announces a letter of intent to acquire ProActive Nutra, a GMP, FDA compliant CBD, mushroom and herbal cleanser manufacturing company operating in a GMP-compliant facility. The company currently manufactures over 30 products for the ProActive Nutra brand and many others as a private labeled finished product. ProActive Nutra is established in thousands of retail stores throughout the southwest of the U.S. and has the ability and plans to scale throughout the U.S.
Quote, “This is an exciting opportunity for SinglePoint. We have been fulfilling CBD products and formulations for customers already, and to bring that process in-house through this acquisition while increasing our revenue as well is a win-win for SinglePoint. This acquisition brings a solid business team with over 20 years of experience in the nutritional supplement space. ProActive Nutra is an established company with brands that have been established for over 25 years. The opportunity to grow this business is tremendous, and we look forward to working with the current management, who have brought it to the successful business it is now,” end quote, states Greg Lambrecht, CEO SinglePoint.
ProActive Nutra’s Immune 5+ product was a finalist for the editor’s choice award at Supply Side West. The company has been recognized for quality products and established a large following of its products, specifically the STAT! line of products, which ProActive Nutra currently has worldwide exclusive distribution rights for.
SinglePoint has been filling private labeled finished CBD products through co-packing partners over the last six months and looks to bring those products in-house through this acquisition to increase revenue and profitability for SinglePoint. This acquisition will bring additional revenue to SinglePoint and has been operating at above a 45% margin. The ability to scale quickly with additional distribution points provides a path to quickly increasing sales.
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