- Plant&Co. Brands (VEGN) has acquired a controlling interest in Heal Lifestyle Inc
- Heal Lifestyle operates three Heal Wellness plant-based quick-serve restaurants in Ontario
- This transaction completes a milestone in the company’s growth plan and revenue
- The Heal Wellness business marks the second acquisition of Plant&Co in the last three months
- Plant&Co. Brands Ltd. is a modern health and wellness company curating plant-based foods
- Shares of Plant & Co. Brands Ltd (VEGN) were up 12.50 per cent, trading at $0.07 at11:04 ET
Plant&Co. Brands has acquired a controlling interest in Heal Lifestyle Inc, which operates three plant-based quick-serve restaurants in Southern Ontario.
The closing of this transaction completes a milestone in the company’s growth plan and revenue targets set out by the board of directors and corporate management in September 2021. The Heal Wellness business marks the second acquisition of Plant&Co in the last three months.
The acquisition of a controlling interest in Heal Wellness is accretive and allows for significant organic growth moving forward.
“This is a great achievement for the company and its shareholders,” stated Shawn Moniz, CEO of Plant&Co.
“We are happy to welcome the founders of Heal Wellness, Jay Zuccato and Jesse Davidson, to our team, and look forward to working with them to build the Heal Wellness brand and business,” he added.
With the acquisition of a controlling interest in Heal Wellness, the company anticipates immediate organic growth through existing and new locations being established throughout 2022 and 2023.
The sourcing of suitable new Heal Wellness locations by the company is currently underway, and Plant&Co has already entered into discussions with respect to the potential of expanding the Heal Wellness stores via corporate and franchise locations.
The company anticipates developments on this front to be announced in the third quarter of 2022.
Plant&Co. entered into a share exchange agreement with Heal Wellness, the shareholders of Heal Wellness and 1000193142 Ontario Inc.
Plant&Co. Brands Ltd. is a modern health and wellness company curating plant-based foods.
Shares of Plant & Co. Brands Ltd (VEGN) were up 12.50 per cent, trading at $0.07 at 11:04 ET.
