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Strike Axe, Inc. (OTCBB: SKAX) announced it has entered into an Asset Purchase Agreement with Mega-Pro, Inc. as part of its strategy to become the leader in the Nutritional Enhancement and Supplements Industry.
Wayne Allyn Root, Strike Axe CEO, said of the deal, “The purchase of the Mega-Pro brand, products and distribution channels gives us a world-renowned brand name licensed in multiple countries and will play a key component in our growth strategy as a global nutritional powerhouse.”
The Asset Purchase terms include a combination of cash and a convertible note.
“The purchase of the Mega-Pro brand instantly opens up huge distribution into thousands of global retailers. The purchase includes 24 products responsible for millions of dollars of past sales, distribution channels in 18 countries and numerous strategic relationships to bolster our fast paced growth. When combined with our online sales strategy Mega-Pro gives us a competitive advantage as we grow both domestically and internationally into South America, Asia and Europe. For over 26 years Mega-Pro has produced the highest quality products in the sports nutrition arena. Our team has worked very hard to secure this purchase. We are excited about what this Mega brand will add to our bottom line,” Shaun Sullivan, Strike Axe president, added.