NEW YORK, March 05, 2020 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTC: EFSH), a unique publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, appointed Jay E. Amond as chief executive officer of its recently formed subsidiary, 1847 Hydroponic Inc.
“Jay is the right person to lead our newest company as we move forward with a key acquisition poised for significant growth in the cannabis industry,” stated Ellery W. Roberts, founder and chief executive officer of 1847. “As a results-oriented strategic leader with a high level of expertise in translating a company’s direction and strategic vision into actionable goals, Jay is an extremely welcome asset to our team.”
“I’m really pleased and honored to join 1847’s exceptional team. Being able to participate in the high-growth cannabis industry in a way that doesn’t involve touching the plant or other end products, but rather through ancillary supplies, was a key driver to attracting me to this role. I believe there is a tremendous opportunity ahead to grow this operation from its current small footprint into a nationwide industry leader, and I look forward to making that happen.”
Prior to joining 1847, Amond was President & CEO of Nebraska Book Company Holdings, a 100+ year-old bookseller that has grown into one of North America’s largest wholesale textbook distributor, technology solutions provider and a key consulting partner to more than 2,000 Higher Education retailers nationwide. Before becoming President & CEO, Amond held the role of CFO and Treasurer for the company.
Previously, Amond held senior financial leadership roles at Patina Solutions, Follett Higher Education Group, Ross Stores, Ultimo Enterprises, Hot Topic, and Federated Department Stores.
Amond earned a BS in Accounting from Pennsylvania State University.
In January 2020, 1847 signed a non-binding Letter of Intent (LOI) to acquire a multi-state retail hydroponic supply operation with meaningful sales and attractive unit economics. The hydroponics systems market is projected to grow at CAGR of 12.1% over the next six years, from $8.1 billion in 2019 to $16 billion in 2025, according to analysts at MarketsandMarkets Research.
About 1847 Holdings LLC
1847 Holdings LLC (OTC: EFSH) is a publicly traded partnership that combines the most attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company. 1847 Holdings seeks to generate returns for shareholders in the future through consistent, annual distributions of operating subsidiary income and capital appreciation resulting from the timely sale of operating subsidiaries.
Forward-Looking Statements
This press release may contain information about 1847 Holding's view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.
Contact:
Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com
Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com