Dewmar International BMC, Inc. (the “Company”) ( OTC PINK : DEWM ) today announced that it has agreed in principle to a possible merger or acquisition of India Imports LLC, a Louisiana limited liability company that has been in business since 1986. If the acquisition is successfully closed, it will add approximately $150 million to the annual revenues of Dewmar.
On Saturday, August 12th, Dewmar International CEO and Founder, Dr. Marco Moran, met for several hours with India Imports, LLC CEO and Founder, Hiren Shah, at their Louisiana office to discuss the complex details of a merger or acquisition. International Wholesale Club of New Orleans, which is the DBA of India Imports, LLC has generated approximately $150 million of revenue annually for the past five (5) years. In fact, India Imports is one of the nation’s largest independent wholesalers with significant growth potential post-acquisition.
“The thing that I like about Hiren’s company is that it’s a family ran business where I have met and worked with his mother, father and sister prior to the inception of Dewmar International. I attribute much of the success Dewmar has had placing product in the many ethnic C-stores and wholesalers nationally to my work with Mr. Shah,” says Dr. Moran. “Not only is Hiren a very astute and successful businessman who has proven to be an invaluable mentor and distribution ally; he was one of the first major investors in Dewmar when, in 2010, he loaned the Company nearly $300,000 with extremely reasonable terms to expand our product mix from 1-to-3 flavors of our Lean Slow Motion Potion brand,” Dr. Moran continued.
In fact, Dr. Moran stated that International Wholesale is the longest standing customer of Dewmar that has consistently sold more Lean Slow Motion Potion and Kush Cakes than any other wholesale customer in the country.
Mr. Shah refers other major wholesalers across the U.S. to Dewmar for business which has helped Dewmar maintain consistent sales. International Wholesale is one of the largest independent, family-owned wholesaler of food, beverage and consumer goods in the nation with a very strong presence throughout the Gulf Coast Region.
This acquisition would provide Dewmar with expanded market reach for its existing and new consumer goods. In fact, if the acquisition is closed, new products can be piloted at the 120,000 square foot wholesale facility to build up the brand’s sales track record before Dewmar presents them to big box retailers. Post-acquisition, International Wholesale Club plans to add an extra 40,000 to 60,000 square feet to accommodate expected growth.
In any merger or acquisition of this magnitude, many professionals need to come together including lawyers, accountants, officers and directors to successfully complete the transaction. It is important for all Dewmar shareholders to understand that there is no certainty that this transaction will close. However, an agreement has been reached in principle and both sides are committed to moving forward to complete the transaction by year-end.
“I have known Marco since 2008 when he first started delivering beverages himself to the bays of my warehouse in a box truck. He has the best work ethic and is extremely smart. Most importantly, he is the most trustworthy business person of anyone that I have ever met besides myself and my father,” says Hiren Shah. “Despite Marco’s tremendous financial success across multiple industry verticals; he remains humble and listens to what advice I may interject to him even though we may not always agree. His honesty and resilience is unmatched therefore I approached him to discuss how we may collaborate our strengths to create one of the top Corporations, not just in the state of Louisiana, but in the World,” Mr. Shah exclaimed.
Prior to Dewmar opening its new office in downtown New Orleans last year, Mr. Shah would allow Dr. Moran to work from their vast warehouse office space as if it were his own. These two international business leaders have built a solid relationship through consistency and hard work with a foundation of mutual trust and respect. Expect to hear more as this epic deal matriculates toward completion.
Click here for reuse options!