The top kratom company is currently consolidating the industry and doubling their sales team.
August 5, 2022 – Salt Lake City, UT – MIT45 has announced the successful acquisition of Golden Monk, one of the top direct-to-consumer kratom sites over the past few years. The acquisition came as MIT45 is consolidating the market and heading to the next stage of growth. The company is currently on track to surpass 9 figures in 2022.
For the past 3 years, MIT45 has solidified their reputation as the Gold Standard in the industry. They were recently named a Top 3 Innovative Company in 2022. They were recently recognized in LA Newswire for the excellent workplace culture developed over the previous couple of years and for leading the charge for the regulation of the industry.
MIT45 acquired Golden Monk kratom on August 4th after Golden Monk entered the industry a few years ago and took it by storm, growing rapidly over the past 2 years to become a major competitor in the space. They quickly rose from unknown to a top e-commerce platform.
Ryan Niddel, the CEO of MIT45, identified the strategic addition of Golden Monk helping to bolster ongoing efforts in sales and marketing. With the acquisition it puts the company on track to nine figures annually, and the move uniquely positions MIT45 ahead of the pack with regards to consolidating the market. Mr. Niddel has helped guide the company to rapid growth over the past few years and now appears to be turning up the pace.
He had this to say about the transition into the new phase of acquisitions, “We have had strong dynamic growth over the past couple years, and now we’re ready to push into new areas for this industry. We are tackling the next stage and plan to continue our expansion with more acquisitions currently in discussion. We are on track to absorb a significant portion of the market by 2023.”
Acquisitions are accelerating in the kratom industry at a time when the industry is shifting gears and breaking into mainstream audiences reaching new heights on the heels of the CBD growth. Recently Wolters Kluwer, a global provider of professional information, software solutions, and services for professionals, published an article of business trends in 2022 and stated, “2021 was an unprecedented year of M&A with $2.9 trillion in acquisitions (up 55% from the previous year). 2022 is currently on track to exceed 2021.”
MIT45 has been at the forefront of the industry and consistently pushing the boundaries of growth, and the latest acquisition is another step on their way to increasing market share through multiple expansion strategies. As the foundation of the company, consumer demand, and company revenue has steadily expanded year over year, the company is poised to become the Coca-Cola of kratom and is currently on track to consolidate the industry in 2023.
You can learn more about MIT45 by going to MIT45. To learn about MIT45 wholesale opportunities and why it is the fastest-growing brand in convenience stores, go to Mit45Merchants.com
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