$TQLB announced its entry into 51% ownership of a
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Posted On: 06/18/2021 8:50:37 AM
$TQLB announced its entry into 51% ownership of a new manufacturing joint venture partnership (the “JV”) with leading contract manufacturer Zero Day Nutrition ("Zero Day"
.
Torque will contribute capital to the JV to support machinery and other capital expenditures, while Zero Day will contribute manufacturing expertise and sales from its portfolio of current and prospective client brands - including rapidly growing, award-winning brands such as Glaxon - expected to be up to several million dollars annually.
Glaxon has won multiple industry awards in its first year of sales:
Nominated for Stack3d "Overall 2020 Brand of the Year"
Named Stack3d "Newcomer Brand of the Year"
Named Priceplow "Breakout Brand of the Year"
Named Fitness Informant "Breakout Brand of the Year"
"We are thrilled to announce this JV, vertically integrating Torque alongside an industry leading manufacturing firm to improve the gross margin profile of the enterprise," said Leonard K. Armenta Jr., President of Torque Lifestyle Brands. "In addition to realizing revenue from Zero Day's client portfolio, we will manufacture products for our in-house brands - notably boosting profitability potential as we scale. I look forward to continued vertical integration in the quarters ahead as we strive to create value for our shareholders."
. Torque will contribute capital to the JV to support machinery and other capital expenditures, while Zero Day will contribute manufacturing expertise and sales from its portfolio of current and prospective client brands - including rapidly growing, award-winning brands such as Glaxon - expected to be up to several million dollars annually.
Glaxon has won multiple industry awards in its first year of sales:
Nominated for Stack3d "Overall 2020 Brand of the Year"
Named Stack3d "Newcomer Brand of the Year"
Named Priceplow "Breakout Brand of the Year"
Named Fitness Informant "Breakout Brand of the Year"
"We are thrilled to announce this JV, vertically integrating Torque alongside an industry leading manufacturing firm to improve the gross margin profile of the enterprise," said Leonard K. Armenta Jr., President of Torque Lifestyle Brands. "In addition to realizing revenue from Zero Day's client portfolio, we will manufacture products for our in-house brands - notably boosting profitability potential as we scale. I look forward to continued vertical integration in the quarters ahead as we strive to create value for our shareholders."
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