SODALIS LANDS IN AMERICA!

With deep pride we announce a new major acquisition which leads to a fundamental milestone for our group: the entry of Sodalis in America with a direct subsidiary. Sodalis USA and Sodalis Mexico come to life thanks to the acquisition of the brands of High Ridge Brands, one of the largest independent branded personal care companies in North America. The main brands are Zest, Sure, Pert, VO5, SGX NYC, Thicker Fuller Hair, Coast and Brut, skin cleansing, hair care and deodorant/fragrance brands with a strong awareness and presence in the mass market in the United States of America and in Mexico, generating 200 million euros net sales. The team is made up of 68 people and is based in Westport (CT), 1 hour's drive from New York, and Mexico City. Manufacturing is outsourced to a network of contractors located in the United States and in Mexico. For our Group, this project represents a strategic stage in our international development path which leads us to enter the most dynamic economy in the world with a relevant business and to establish ourselves as an increasingly global indepedent player. Fabio Granata, CEO of Sodalis Group, said: “With this acquisition, what seemed like a crazy dream becomes reality: Sodalis enters the American market with a direct affiliate. It is a great transformation for our company, born in a small Italian province, now expanding to New York.  We believe in an important growth plan for Sodalis USA both for the evolution of the current business and as a great platform to launch our European power brands in North America and to complete new acquisitions.” Jim Daniels, CEO of High Ridge Brands and incoming CEO of Sodalis USA and Sodalis LatAm, said: “We are excited to channel our experience in the new path within the Sodalis galaxy towards ever more ambitious goals. In Sodalis we have found the ideal partner who shares our vision of development and who can offer the best synergies for business expansion.” The transaction is expected to close by the end of October 2024, after having obtained the necessary clearance by the anti-trust authorities, and the business is becoming integrated and officially part of Sodalis Group starting from January 2025. We are thrilled to welcome the American team and work on great projects together.