1847 Holdings to sell 1847 Cabinets for $27.6M

1847 Holdings announced the execution of a non-binding Letter of Intent with a prospective strategic buyer to sell all assets of 1847 Cabinets Inc. Under the terms of the LOI, the buyer has proposed an enterprise value of $27.6 million for the acquisition of all assets of 1847 Cabinets Inc., representing a 5.91x multiple of 2023 EBITDA of approximately $4.7 million. The proposed acquisition deal is subject to the negotiation and entry into a definitive purchase agreement and the satisfaction or waiver of customary closing conditions. Ellery Roberts, CEO of 1847 Holdings, commented, “The decision to sell 1847 Cabinets Inc. stems from our commitment to maximizing shareholder value and strategically reallocating resources to capitalize on emerging opportunities within our portfolio. While the sale represents a significant milestone, it is just one facet of our broader strategy aimed at optimizing our asset allocation and enhancing overall shareholder returns. The proceeds from the sale will be strategically deployed to further strengthen our financial position, pursue growth initiatives, and potentially acquiring other companies that offer accretive value and positive cash flow. This infusion of capital not only provides liquidity but also positions us to seize new opportunities for value creation and expansion, ultimately benefiting our shareholders in the long run.”