ALJ REGIONAL HOLDINGS, INC. ACQUIRES RANEW'S COMPANIES, COMPLETES REPURCHASES AND CERTAIN INVESTMENTS
NEW YORK, Sept. 29, 2022 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC:ALJJ) ("ALJ") announced today that it has acquired the outstanding equity interests of certain operating companies doing business as Ranew's Companies from Lester and Susan Ranew. Ranew's Companies, headquartered in Milner, Georgia, are leading suppliers of industrial coating services to multinational manufacturers of equipment and a provider of precision fabrication and assembly and logistics services. The transaction was completed pursuant to a Securities Purchase Agreement, dated September 28, 2022 (the "Purchase Agreement"). Consideration paid by ALJ for the acquisition at closing was $20.8 million, subject to cert
