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Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti®" or the "Company"), a breakthrough U.S. indoor...
Local Bounti Corp., an indoor agriculture company, has entered into a definitive agreement to acquire California-based complementary indoor farming company Hollandia Produce Group Inc., which operates under the name Pete's®, for total consideration of $122.5 million, subject to customary adjustments. The transaction consideration will comprise $92.5 million in cash, expected to be provided pursuant to Local Bounti's existing lending facility with Cargill, and the remaining $30 million of consideration payable in
De-risks near-term operational execution, expanding upon existing market presence and creating a coast-to-coast footprint covering existing relati...