- Plant&Co (VEGN) has acquired a 51 per cent interest in LumberHeads Food Co. in exchange for a $75,000 shareholder loan
- The two parties have created a joint venture company that will accelerate revenue of LumberHeads’ Plant-Based Kettle Corn snack foods line
- Plant&Co. plans to expand its family of brands into the snack food category
- Plant&Co. Brands Ltd. is a modern health and wellness company curating plant-based foods
- Plant&Co Brands Ltd. (VEGN) opened trading at C$0.18 per share
Plant&Co (VEGN) has acquired a majority interest in LumberHeads Food Co., a boutique plant-based snack food manufacturer based in Milton, Ontario.
The two parties have created a joint venture company that will accelerate revenue of LumberHeads’ Plant-Based Kettle Corn snack foods line by leveraging Plant&Co’s management, branding expertise and its distribution network.
“With this majority interest in LumberHeads Food Co., we are adding immediate revenue as well as taking a milestone step into expanding Plant&Co’s family of brands into the snack food category. We plan to quickly expand distribution, first in Ontario then throughout the rest of Canada,” said Shawn Moniz, CEO of Plant&Co.
“We are confident of the continued growth of our company organically and through accretive acquisitions such as LumberHeads. We made a commitment in September to execute on an organic and inorganic growth strategy, LumberHeads is an example of that strategy unfolding. This is the first of many brands to be welcomed into Plant&Co’s portfolio as we continue to execute the companies 2022 roadmap.”
This mutually beneficial agreement provides LumberHeads with the resources and experience to accelerate its growth while Plant&Co acquires a 51 per cent majority interest for a $75,000 shareholder loan. The transaction is expected to close on February 1, 2022.
Plant&Co. Brands Ltd. is modern health and wellness company curating delicious plant-based foods. It offers a growing number of delicious plant-based food products through two leading plant-based brands: Holy Crap Foods Inc. and YamChops, the vegan butcher.
Plant&Co Brands Ltd. (VEGN) opened trading at C$0.18 per share.