Paranovus Entertainment Technology announced that it has signed a non-binding letter of intent to acquire Jabanero, a consumer brand focused on women’s activewear and lifestyle products, in a transaction valued between $15 million and $20 million.
Under the proposed terms, Paranovus would acquire 100% of Jabanero’s equity interests, with the purchase price to be paid in cash at closing. The final valuation will be determined following financial, legal, and business due diligence and will be reflected in definitive transaction agreements. The company said it will retain an independent advisor to provide a fairness analysis regarding the consideration paid to Jabanero shareholders.
The parties have agreed to an exclusivity period of up to 60 days and intend to negotiate a definitive agreement, subject to due diligence and customary approvals, including approval from the boards of both companies and Paranovus shareholders.
Paranovus said the proposed acquisition represents an important step in its strategy to diversify beyond digital commerce and livestreaming operations and expand into proprietary consumer brands and direct-to-consumer products.
The company believes the transaction could create synergies with its existing social commerce capabilities and strengthen its long-term growth profile.
Paranovus completed the acquisition of controlling equity interests in Bomie Wookoo in March 2025 and has exited several legacy businesses, including its e-commerce, internet information, advertising, and automobile sales operations, as part of its strategic transformation.
The transaction remains subject to due diligence, definitive agreements, regulatory and shareholder approvals, and other customary closing conditions. There is no assurance that a definitive agreement will be executed or that the acquisition will be completed.
KEY QUOTES:
“As we continue to scale our digital commerce operations, we believe acquiring consumer brands represents an attractive opportunity to create long-term value and strengthen our competitive position. The proposed acquisition would complement our existing social commerce capabilities and mark an important step in our evolution toward a more integrated consumer products and digital commerce company.”
Xiaoyue Zhang, Chief Executive Officer of Paranovus Entertainment Technology
