- EarthRenew (ERTH) is acquiring 100 per cent of Replenish Nutrients
- EarthRenew previously announced it would acquire a 38 per cent stake of Replenish
- Replenish Nutrients is a privately-held regenerative fertilizer and nutrient company
- The acquisition of Replenish is expected to provide EarthRenew with revenue, an existing customer base and product distribution channels
- EarthRenew is down 8.33 per cent on the day, with shares trading at C$0.50 at 2:26 p.m. EST
EarthRenew (ERTH) is acquiring 100 per cent of Replenish Nutrients.
EarthRenew previously announced it would acquire a 38-per-cent stake of Replenish.
Replenish Nutrients is a privately-held regenerative fertilizer and nutrient company located in Okotoks, Alberta.
The proposed acquisition is expected to provide EarthRenew with revenue, an existing customer base and distribution channels to sell fertilizer and soil solutions in Western Canada and the U.S.
Replenish Nutrient’s senior management team’s experience, technical expertise and existing relationships are expected to enhance EarthRenew’s operational capacity.
“The outcome of the diligence process was that it became apparent to both parties that we were more aligned with our collective vision than we originally thought, and the natural next step was for EarthRenew to become much more than a minority owner of Replenish Nutrients.
If consummated, acquiring full ownership is anticipated to allow us to not only add top line revenue and accelerate phase two of our construction plans, but also to invest in the growth of Replenish Nutrient’s manufacturing capacity to address a supply gap for their product. We look forward to the potential to work with the entire Replenish Nutrients team to accelerate growth of the new combined entity, leveraging their experience in the fertilizer and soil solution space,” said EarthRenew CEO Keith Driver.
The proposed acquisition is an arm’s length transaction and remains subject to certain closing conditions.
EarthRenew is down 8.33 per cent on the day, with shares trading at C$0.50 at 2:26 p.m. EST.
