- TAAT Global Alternatives Inc (TAAT) has completed its acquisition of HLND Holdings
- HLND is the parent entity of ADCO Distributors, Inc., a tobacco distributor based in Ohio
- The acquisition of ADCO was completed via the payment of an aggregate of $6,159,500 in cash and equity
- It consisted of $1,170,305 of the purchase price in cash and the remaining $4,989,195 of the purchase price in common shares in the capital of the company
- TAAT Global Alternatives Inc produces TAAT which is a tobacco-free and nicotine-free alternative to traditional cigarettes
- TAAT Global Alternatives Inc is up 1.87 per cent, trading at $1.09 at 4 pm ET
TAAT Global Alternatives (TAAT) has completed its acquisition of HLND Holdings, Inc.
HLND is the parent entity of ADCO Distributors, Inc., a tobacco distributor based in Canton, Ohio, that was established in 1960 and currently has access to a substantial network of retailers throughout the state through direct and indirect relationships.
On October 6, 2020, the company announced that ADCO made an initial purchase order of TAAT after becoming its first U.S. distributor. After ADCO placed TAAT in its first stores in the state of Ohio, TAAT products were officially “on the market” in direct competition with cigarette products that contain tobacco.
As of May 2022, the TAAT retail presence in Ohio consists of hundreds of stores, which the company plans to aggressively build upon through ADCO’s distribution network and commercialization resources.
“In less than two years, ADCO has generated wonderful results for us as a distributor, and has contributed to our growth from being a new competitor in the tobacco category to a brand sold nationwide as a better alternative to tobacco cigarettes,” noted TAAT Co-Founder Joe Deighan.
“The acquisition of ADCO can also fortify our financial position as ADCO will continue distributing its standard convenience product lines, which collectively generated over CAD $87 million in net revenues in calendar 2021,” he added.
The acquisition of ADCO was completed via the payment of an aggregate of $6,159,500 in cash and equity, comprising $1,170,305 of the purchase price in cash and the remaining $4,989,195 of the purchase price in common shares in the capital of the company.
A total of 3,786,572 consideration shares were issued at a deemed price of $1.317602 per consideration share, representing the 45-day volume weighted average closing price of the company’s common shares.
TAAT Global Alternatives Inc. is a company producing TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original,” “Smooth,” and “Menthol” varieties.
TAAT Global Alternatives Inc. (TAAT) is up 1.87 per cent, trading at $1.09 at 4 pm ET.
