- Mohawk Group Holdings Inc. designs, develops, markets, and sells consumer products guided by machine learning, natural language processing, and data analytics
- Mohawk is on a mission to become the leading e-commerce consumer brands platform
- The company’s acquisition of Healing Solutions, LLC, itself a leading online seller, heralded Mohawk’s entry into the essential oils sector
- The acquisition is the latest in a string of similar business moves and is expected to increase MWK’s revenue for the 2021 financial year
Mohawk Group Holdings (NASDAQ: MWK), a growing tech-enabled consumer products company, has continued its quest to become the leading e-commerce consumer brands platform with its latest acquisition of Healing Solutions, LLC. MWK paid approximately $15.3 million in cash in addition to issuing approximately 1.4 million shares of Mohawk’s common stock. On its own, MWK has launched consumer products across four brands, spanning home and kitchen, beauty, consumer electronics, and appliances. Thus, the acquisition heralded its entry into the essential oils’ category.
Healing Solutions is a leading online seller of essential oils whose unaudited trailing-twelve-month revenue and operating income (excluding inventory liquidations) as of October 31, 2020, were approximately $65.2 million and $12.7 million, respectively. Notably, MWK paid an amount equivalent to about…
NOTE TO INVESTORS: The latest news and updates relating to MWK are available in the company’s newsroom at https://ibn.fm/MWK
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