Live Ventures Provides Update on Acquisition of ApplianceSmart
Live Ventures Incorporated (LIVE)
US:NASDAQ Investor Relations:
ir.live-ventures.com
Company Research
Source: GlobeNewswire
LAS VEGAS, April 26, 2018 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq:LIVE), a diversified holding company, today provides investors with an update on its acquisition of ApplianceSmart. As previously announced, on December 30, 2017, the company acquired the retailer of major household appliances for $6.5 million. Live Ventures paid approximately $2.5 million of the purchase price in cash. The remaining approximately $4.0 million was paid by a promissory note bearing interest at five percent per annum and maturing on April 1, 2021. The acquisition is expected to bring Live Ventures’ total annualized revenues to in excess of $200 million. The company has filed a Current Report on Form 8-K with further details and can be accessed via the Securities and Exchange Commission’s website at www.sec.gov. “ApplianceSmart easily fits into our portfolio as a company with a proven track record of sales, with the added bonus of providing consumers with environmentally friendly applian
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