Subscribe
Be the first with the news that moves the market- Pangea Natural Foods (PNGA) is acquiring organic juice maker Glory Juice
- Vancouver-based Glory Juice has been operating for nine years, with three retail locations in the city
- The all-stock transaction is worth $1,440000 and payable over time in increments
- The deal will also see Pangea repay outstanding loans owing to various Glory Juice shareholders worth approximately $1,800,000
- Pangea Natural Foods (CSE:PNGA) is unchanged, trading at $0.24 at 9:30 am ET
Pangea Natural Foods (PNGA) is acquiring organic juice maker Glory Juice.
Vancouver-based Glory Juice has been operating for nine years, with three retail locations in the city.
The all-stock transaction is worth $1,440000 and payable over time in increments.
Pangea is a manufacturer and co-packer of health food products, also based in Vancouver.
The deal will also see Pangea repay outstanding loans owing to various Glory shareholders worth approximately $1,800,000.
Glory Juice also offers franchising options, business-to-business partnerships with its wholesale partners, co-branding, and white-label capabilities.
Once the transaction closes, Glory Juice and its entities will each become wholly-owned subsidiaries of Pangea Natural Foods.
Pangea offers manufacturing services to a number of food companies looking to expand their line of products or to increase manufacturing. Manufacturing is done at the company’s facility in Surrey and is approved by both the Canadian Food Inspection Agency and the U.S. Food and Drug Administration.
The company’s co-packing services extend to Canada and the United States.
Pangea Natural Foods (CSE:PNGA) is unchanged, trading at $0.24 at 9:30 am ET.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
