Street Calls of the Week
LONDON - Everest Global plc (LSE:EVST) has acquired a cigar distributor and cigar lounge from Rekam Limited for £90,000 in cash, according to a press release statement issued Friday.
The transaction involves the purchase of the business and its assets as a going concern, excluding creditors and cash balances. The business will be operated through N20 Nine Limited, a newly formed wholly-owned subsidiary of Everest Global, and will begin trading under the new ownership in September 2025.
Everest Global, which currently operates in the alcohol distribution and retail sector, described the acquisition as a strategic move to complement its existing business. The company plans to use the cigar lounge as an additional outlet for its alcohol products.
The acquired business will provide Everest with a direct-to-consumer retail channel and a showcase for its product portfolio. The cigar lounge will operate as a retail venue where the company can sell its products directly to consumers.
Everest Global is listed on the London Stock Exchange under the ticker EVST. The company’s directors have taken responsibility for the announcement of this acquisition.
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