Starco Brands, Inc. acquired The AOS Group, Inc. from Matthias Metternich and others for $14.6 million.
September 14, 2022
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Starco Brands, Inc. (OTCPK:STCB) acquired The AOS Group, Inc. from Matthias Metternich and others for $14.6 million on September 12, 2022. Under terms of the deal, consideration include 61,400,000 shares of Starco Brands Common Stock, 5,000,000 additional restricted shares of STCB common stock after an 18-month indemnification period, and offsetting against these additional shares will be the sole recourse for any indemnity claims by STCB against the Stockholders and 5,000,000 additional restricted shares STCB common stock contingent upon the Surviving Corporation meeting certain sales metrics. Matthias Metternich and other AOS shareholders will become shareholders of Starco Brands. Both AOS and STCB board of directors has unanimously approved the deal. Proskauer Rose LLP and Buchalter, A Professional Corporation acted as legal advisor to Starco Brands, Inc. Cooley LLP acted as legal advisor to The AOS Group, Inc.
Starco Brands, Inc. (OTCPK:STCB) completed the acquisition of The AOS Group, Inc. from Matthias Metternich and others on September 12, 2022. Starco also acquired $0.2 million of cash of AOS, assumed $0.8 million of liabilities and paid $0.008 million in cash.
Starco Brands, Inc. is a consumer goods company. The Company operates in three segments: Starco Brands, Skylar, and Soylent. The Starco Brands segment is engaged in the development and sales of consumer goods products. The Starco Brands segment includes STCB, AOS, Whipshots Holdings and Whipshots LLC. The Skylar segment is involved in the sale of fragrances. The Soylent segment is engaged in the sale of nutritional products, mainly drinks. Its brands include Whipshots, the vodka-infused whipped cream; Art of Sport, the body care brand designed for athletes; Winona, the indulgent theater-popcorn spray powered by air; Skylar, the fragrance that is both hypoallergenic and safe for sensitive skin; Whipshots; and Soylent, a non-dairy nutrition brand. It commercializes consumer products manufactured by The Starco Group (TSG). TSG is a private label and branded aerosol and liquid fill manufacturer with manufacturing assets in verticals, including paints, coatings and adhesives, and household.