Jeffs’ Brands Ltd (NASDAQ: JFBR) shares were stagnant Wednesday. The data-driven e-commerce company operating on the Amazon Marketplace, today announced that it has launched sales of its recently acquired brands of pest control products on Amazon Marketplace in the United States.
To date, the five private label brands had been sold mainly on Amazon.uk, generating approximately $5.8 million in revenues for 2022. The Company’s main goal is the expansion of the brands’ and products’ global reach.
According to ResearchDive, the North America rodent control market accounted approximately $1.6 billion in 2020 and is projected to grow with a CAGR of 5.2%. Pest control, which also includes rodent control, is an important industry in the U.S. as it ensures health & safety of people as well as industries that are infected by pests such as rodents.
“We believe our advanced technologies, unique marketing and advertising methods and professional team, enable us to identify and acquire brands and companies that operate in attractive sectors, expand their reach and potentially increase revenues,” said CEO Viki Hakmon. “Today we are taking the first step to leverage our new brands and products, targeting the leading market in the world. It is our intention to continue supporting and driving our brands forward.”
JFBR shares picked up one cent to $1.60.