CHEYENNE, WY / ACCESSWIRE / August 9, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC PINK:CSOC) ("Caduceus" or the "Company"), a publicly traded Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry is pleased to announce it has completed and closed on its acquisition of McLovin's Pet Food ("McLovin").
On August 9th, 2021, McLovin signed off on final terms of acquisition and executed the transaction, therefore becoming a wholly owned subsidiary of Caduceus.
Alex Chen, Chief Executive Officer and Director of Caduceus, stated: "We have been working tirelessly to get to this point. We are looking forward to the next step in this journey. McLovin's team has been actively developing sales and new distribution channels. We cannot wait to announce the progress achieved so far on that front. This is the first of many great announcements by the Company regarding execution of its Strategy to create value for shareholders and to reach the requirements for an up listing to the Nasdaq."
The global pet food market size is expected to reach USD 127.21 billion by 2027, exhibiting a CAGR of 4.60% during the forecast period. In 2019, the market value stood at USD 90.13 billion. The demand for high-quality and organic foods for pets is being driven by owners' concerns about their pets' health and boosting this market, shares. (Fortune Business Insights™ report titled "Pet Food Market, 2020-2027")
The Pet food and treat sales in the U.S. increased 9.7% in 2020, adding USD 3.7 billion for a total of USD 42 billion for the year, according to the American Pet Products Association (APPA). Continued healthy growth is estimated for 2021. The APPA expects this general resilience and growth to continue in 2021, projecting above-average increases again for pet food and pet supplies at 5% and 6%, respectively. The growth for pet food would result in an estimated USD 44.1 billion in sales for 2021.
"Working with Caduceus and its dedicated team has already started reaping rewards before even the closing happened. I believe becoming part of Caduceus is the catalyst that will propel McLovin's higher. We are very fortunate to have been able to raise funds to expand our operational capacity with the help of the Caduceus team and its backers. The demand for pet food, treats and accessories is very strong and shows continuous growth. We are well positioned to meet that demand with our higher quality products." Said David Ji, Chief Executive Officer of McLovin.
About Caduceus Software Systems, Corp.
Caduceus Software Systems Corp is a Wyoming-based holding company with is wholly owned subsidiary McLovin's, a Pet Food and Pet Care company. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11%. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories. The Company is traded on the OTC Markets under the trading symbol "CSOC".
For more information:
- OTC Markets: (OTC Pink: CSOC)
- Corporate Website:https://caduceuscorp.co
- Email: info@caduceuscorp.co
- Discord: https://discord.gg/apolloassets
- Twitter: https://twitter.com/caduceuscorp
About McLovin's Pet Food, Inc
McLovin's, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you'll find in McLovin's is similar to what you'll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.
Corporate Website: https://mclovinspetfood.com/
Forward-Looking Statements:
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Caduceus Software Systems, Corp.
View source version on accesswire.com:
https://www.accesswire.com/658941/Caduceus-Completes-McLovins-Acquisition
