2021 Investor Update and Acquisition News
Some updates from our Leadership Team on our path ahead.
In the fall of 2020 our leadership aligned on an evolving strategy to further diversify the revenue of TTK away from events and offices. We wanted a way to continue to grow the TTK Brand and our overall Impact while creating a more sustainable work environment for our youth. Part of this strategy was to enter the retail & e-commerce spaces and one of the ways to accelerate our retail entry is through value added acquisitions. Given COVID and its impacts, we're being exposed to brands that are under-resourced with established businesses, customers, revenues and fatigued leadership teams interested in exiting which is posing some unique opportunities for TTK.
Given the above, we've moved quickly to evolve the business to set up the next chapter of growth at TTK. In the spirit of this, we closed yesterday on the acquisition of Oat Cuisine, a 30+ Year old San Leandro Granola Company (about 5 exits down 880 from us). This brand allows us the acceleration of the TTK Brand into retail through established customer relationships, existing revenues and established West Coast Distribution. While the brand identity will need refreshing, the brand platform will allow TTK to innovate beyond the cereal aisle, leveraging our fresh food core competencies into an already established supply chain and customer base. As part of this acquisition, Linda Romine the founder of Oat Cuisine will be retiring and this was a great way for her to hand over the legacy of her brand. This acquisition will also allow our youth expanded opportunities in the baking area, CPG Brand Management and commerce operations. Our leadership team has transitioned the business over this past week and will continue to operate it out of The East Bay. Our goal is to co locate the Bakery and Fresh Operations in a new home in Q2- 2021. Oat Cuisine will remain the brand at retail, but will be "Powered By TTK" our workforce development model.
We will publicly announce this in the coming week after we fully transition operations and contact existing Oat Cuisine customers and suppliers, but wanted to give this team a heads up on what we're up to.
We've also formally kicked off an equity raise to continue to fuel our growth and other acquisitions in 2021 and beyond. If you're interested in details, for possible investment, please contact me and we can share the investment overview.
While the road ahead is exciting, there's still much work to do to keep TTK on the up and up! Thank you for the continued support of our mission, our youth and our leadership team!
Fellow Investor and CEO