Code Green Apparel Corp. announced that the company has entered into a binding letter of intent to acquire the Zoombang Companies, makers of protection gear for football and hockey players as well as for other industries, through a tax-free share exchange agreement.
The Zoombang Companies, based in Katy, TX, manufacture and produce impact protection gear for use in all sports, military, police, tactical, industrial, equine and medical applications through the use and application of the companies’ proprietary polymer technology. The polymers that the company manufactures and develops are engineered to manage energy by dissipating, transferring or accentuating blunt force trauma, shock, g-force loading and vibration. The proprietary polymers reduce injury and increase comfort for applications where protection to the body is critical, such as in all contact sports, military/ballistic applications, hazardous work environments and medical (post-transplant and surgical protection) applications.
Currently, there are 14 NFL Teams and 11 NHL Teams who purchase and use Zoombang’s products. Zoombang said the companies’ products absorb over 40 percent more of the energy than any of the other products being tested.
“Being in the apparel industry for more than 40 years, I have come across and been exposed to a wide variety of textiles, fabrics, technologies and designs,” commented George J. Powell, president and CEO of Code Green Apparel Corp. “I must say that I was utterly blown away by Zoombang’s array of product offerings, versatility, technology, intellectual properties and outstanding quality while performing my research and due diligence. Zoombang has a proven technology and has further identified the optimal path and sales verticals for the company to pursue and prosper.”
“We are extremely excited about joining Mr. Powell and being an integral part of the Code Green Apparel team,” commented Joseph Scott, co-founder and CEO of Zoombang. “With Code Green’s extensive background in sourcing and production, it was clear from the outset that there are many synergies between the Zoombang Companies and the expertise that Code Green has to offer. We believe these synergies will immediately enhance both companies’ abilities to drive existing and new revenue streams through the sale of our wide range of products with both Zoombang’s current customer base and to engage in new sales endeavors.”
As an integral part of the acquisition, Code Green Apparel has made a financial commitment to invest up to $1.5 million to fund Zoombang’s rapidly growing operations and to build the appropriate operational infrastructure including, but not limited to, sales, technology and administrative personnel.
Code Green Apparel Corp is a provider of sustainable corporate logo wear, uniforms and other textile products.
