- Better Plant Sciences (PLNT) has acquired Canadian wellness brand Jusu in an all-stock deal valued at around C$2.2 million
- Through the deal, Better Plant Sciences will acquire all of Jusu’s 300 plant-based products, as well as its eCommerce sites, customer lists, and all tangible assets relating to the Jusu Bar retail location in Victoria
- In exchange Better Plant Sciences will issue 22 million units at 10 cents per share, with each unit consisting of one common share and one two-year purchase warrant at 11 cents per share
- With the new edition of Jusu, Better Plant Sciences’ current plant-based catalogue now contains around 150 products and over 400 formulas
- Better Plant Sciences (PLNT) is remains unchanged and is trading at 7.5 cents per share
Better Plant Sciences (PLNT) has acquired Canadian wellness brand Jusu in an all-stock deal valued at around C$2.2 million.
Jusu currently manufactures a series of plant-based health foods, which is markets and distributes under its brand. Through the deal, Better Plant Sciences will acquire all of Jusu’s 300 plant-based products, as well as its eCommerce sites, customer lists, and all tangible assets relating to the Jusu Bar retail location in Victoria.
In exchange Better Plant Sciences will issue 22 million units at 10 cents per share, with each unit consisting of one common share and one two-year purchase warrant at 11 cents per share.
Following the acquisition, the operations of Jusu will be led by Better Plant Sciences new formed subsidiary Jusu Wellness Inc. Better Plant Sciences sought out Jusu to expand its existing portfolio of wellness products, which include its Urban Juve, Wright & Well and NeonMind brands. With the the new edition of Jusu, Better Plant Sciences’ current cataloug now contains around 150 products and over 400 formulas.
Once the deal finalises, founder of Jusu Bruce Mullen will join Better Plant Sciences board as a director.
CEO and President of Better Plant Sciences Penny White said Jusu was an excellent addition to the company’s portfolio. Penny went on to outline the company’s plans for its new acquision.
“We are focused on bringing the most innovative and premium plant-based products to market to help our customers optimize their health, and well-being.
“Our plan is to grow the Jusu business, which is currently generating revenues of approximately $60,000 per month, by optimizing sales through ecommerce channels, strengthening the brand and product offering, as well as expanding through a franchise model,” she added.
Better Plant Sciences (PLNT) is remains unchanged and is trading at 7.5 cents per share at 11:21am EDT.