SCOTTSDALE: Southern ITS International (OTC PINK:SITS) has acquired an 80% ownership stake in Kinzie LLC, a dynamic e-commerce enterprise.
Kinzie LLC, established in 2013 and previously family-owned, started in the jewelry industry and has expanded its offerings to include everyday household items. The company has surpassed $28 million in sales since its inception.
Gil Irey, President of Southern ITS International, Inc., commented on the acquisition, “This acquisition is a pivotal move for Southern ITS as we deepen our footprint in the e-commerce space. We are excited to bring this vibrant company under our umbrella.”
Kinzie LLC has spent the last 18 months restructuring its business plan to focus on strategic partnerships with high-volume brands selling on Amazon.com. In addition to offering in-demand household-name brands with a track record of success, Kinzie will continue selling its own suite of branded jewelry products.
“Joining forces with Southern ITS International opens up a wealth of opportunities for Kinzie,” said Jeremy Larsen, CEO of Kinzie LLC.
“With the support and resources of Southern ITS International, we are excited at the possibilities for greater poised for even greater expansion and innovation.”
Under the terms of the agreement, Southern ITS International will hold an 80% stake in Kinzie LLC, with plans to leverage its network and expertise to scale Kinzie’s operations and enhance its market presence. The acquisition is aligned with Southern ITS’s strategy to diversify its investment portfolio and capitalize on the e-commerce industry.
Southern ITS International, Inc. operates through its subsidiary companies across diverse sectors, each with a strategic focus, including oil and gas exploration, clothing, consumer beverages, and e-commerce fulfillment.
As a holding company, Southern ITS International actively seeks opportunities to acquire stakes in both public and private companies that complement our current operations.
CARiD secures $35 million for automotive e-commerce expansion
Leave a Reply