Mogul Energy International, MGUY announced its acquisition of the "FLORA" group of companies (Florida Beauty Flora, Inc, Florida Beauty Express, Inc, Floral Logistics of California, Inc., and Tempest Transportation, Inc.). FLORA provides refrigerated trucking and logistics services to companies in floral, plant, food, and other industries that require specialization in time-sensitive, temperature control segments of the supply chain.
Upon the acquisition of Flora, Ronen Koubi, CEO and president of the Flora companies, became the CEO, president, and director of MGUY. Dr. Steven Siegel, formerly CEO, President, and director of MGUY, has resigned.
Florida Beauty Flora was established in the mid-1980s and now, along with the other Flora companies, consists of floral transportation, logistic, and warehouse consolidation specialists, supplying primarily refrigerated long haul, regional and dedicated transportation, and logistical services for the floral and plant industry.
CEO Ronen Koubi stated: "This transaction will enhance the ability for FLORA competitive refrigerated transport and logistic company throughout the United States with the ability to transport and warehouse products in strategic locations to optimize and facilitate customer orders." Furthermore, Koubi says: "The company looks to grow its revenues from approximately $70 million in 2022 to $185 million by 2025, bringing significant value to its shareholders while increasing EBITDA from $3.6 million to $8.1 million during the same period."
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