- EuroLife Brands (EURO) has entered into a definitive agreement to acquire health and wellness brand, Plant & Co Marche
- The acquisition will include Plant & Co Marche’s flagship retail location, situated within Toronto’s Little Italy neighbourhood
- EuroLife Brands will acquire the company and its retail location, in exchange for 2,336,000 common EuroLife shares at C$0.25 each
- Once bought, the retail store will reopen after adjustments to its design, layout, and management training
- EuroLife Brands (EURO) is up 8.00 per cent and is currently trading at 27 cents per share
EuroLife Brands (EURO) has entered into a definitive agreement to acquire health and wellness brand Plant & Co Marche Inc.
Plant & Co Marche operates through its flagship retail location, situated within Toronto’s Little Italy neighbourhood. The store offers niche health and wellness products, with a focus on plant-based, vegetarian, vegan, hemp, and specialty immune-boosting products.
In addition, the store possesses a liquor license and seating for 116 customers, with a fully licensed patio. In light of the COVID-19 pandemic, the store also has a designated curbside pickup station for delivery services and walk-ins.
EuroLife’s acquisition of Plant & Co Marche will include the business’ retail location, which has over 2,200 square feet of space. While the store underwent a C$250,000 redesign and renovation in 2018/2019, EuroLife plans to reopen the store after adjusting its design, layout, and management training.
EuroLife’s CEO, Shawn Moniz, called the acquisition an excellent segue into the growing health and wellness sector in Canada.
“It secures our foothold into the Canadian retail space in a key demographical area that is heavily populated, giving us tremendous commerce opportunity in-store, as well as delivery and online e-com.
“The flagship location in Toronto will be emulated in other key demographic markets and larger centres across the country.
“Utilising our previous experience in consumer behaviour and consumer targeting and analytics, we will aim to take this unique brand in the health and wellness sector to greater heights.
“We have an aggressive plan for expansion and will continue to look for opportune acquisition targets in Canada and North America,” he said.
EuroLife will acquire 100 per cent of issued and outstanding shares in Plant & Co Marche, in exchange for common shares in EuroLife. At C$0.25 each, the 2,336,000 common shares in the company will represent an aggregate consideration of approximately $584,000.
The closing of the acquisition is still subject to customary terms and conditions, as well as regulatory approval.
EuroLife Brands (EURO) is up eight per cent and is trading at 27 cents per share at 11:20am EDT.