Coffee Holding buys Empire Coffee assets for $800k; creates Second Empire subsidiary

COFFEE HOLDING CO INC

Paid $800k for Empire's inventory, equipment, AR, customer list, and IP; paid Nov 7, 2024.
Created wholly owned subsidiary Second Empire to operate the Port Chester facility.
CEO says deal represents ~$0.60 on the dollar of true asset value.
Expects immediate manufacturing and cost savings; plans to return to pre-Covid revenue.
Entered new lease for Empire's property on same day.

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