India, March 11 -- Jeffs' Brands (JFBR, JFBRW) announced that the company and its subsidiary, Smart Repair Pro, has entered into a definitive agreement to acquire Pure NJ Logistics, a company that operates a strategically located approximately 100,000 square foot logistics center equipped with 20 loading docks in New Jersey.
Smart Repair Pro will acquire 100% of the issued and outstanding equity interests of Pure Logistics from its current holders, in consideration for a base payment of $2.1 million, the Base Payment, and a deferred payment of $500,000.
Shares of Jeffs' Brands are up 20% in pre-market trade on Tuesday.
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