NEWTECH HOLDINGS ACQUIRES CRAIG ELECTRONICS FROM NOVA WILDCAT FUND

Signs Distinctive Distribution Agreements for Philco and Philips Manufacturers

MIAMI, Nov. 23, 2022 /PRNewswire/ — Newtech Holdings (“Newtech”) announced today that it has obtained leading shopper electronics company Craig Electronics, headquartered in Miami, Florida. In furtherance of that investment decision, Newtech has also acquired exclusive distribution agreements for Philco customer electronics merchandise and Philips DVD players in North The usa.

Newtech Holdings acquires major purchaser electronics firm Craig Electronics, headquartered in Miami, Florida.

Craig Electronics is a primary shopper electronics innovator which features a total one particular-end buyer technologies and electronics answer for national big box, food items and drug, club, and mass retail distribution. Craig conducts business enterprise beneath a portfolio of brand names which features Craig (owned) and Magnavox (certified), as very well as various personal label associations. Newtech’s senior administration beforehand owned and operated Craig Electronics prior to effectively selling the organization in 2019.

“We are beyond thrilled to be reacquiring a small business that is section of our DNA,” reported Michael Newman, CEO, Newtech. “We search forward to functioning intently with our supplier partners to deliver the remarkable level of assistance that our core team of retail prospects assume and ought to have from us when focusing on the expansion of our e-commerce business enterprise system for supplemental customer products and solutions.”

“Newtech’s extra acquisition of special distribution legal rights for Philco buyer electronics products and Philips DVD gamers in North America will deliver us with remarkable manufacturers and a merchandise portfolio to travel advancement whilst we glance for a lot more client merchandise businesses to purchase,” explained Todd Richardson, president, Newtech.

About Craig Electronics

Originally launched in 1963, Craig has been the most trustworthy price conscious consumer electronics model for around 50 decades. Our mission is basic – to always arrive to the market with the most recent and biggest systems and most on-craze products at cost-effective price ranges though always exceeding your high-quality anticipations. Our mission is in no way-ending and our very long heritage as the leader in on-development price mindful customer electronics is testomony that our mission has been, and proceeds to be profitable. For much more details, go to: https://craigelectronics.com.

About Newtech Holdings

Owned and operated by a senior administration workforce with above fifty years of working experience in the shopper solutions small business throughout various types, Newtech seeks to blend consumer items companies with the money and knowledge they want to generate their organization into the long run.

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