US: Local Bounti to acquire Pete's
US: Local Bounti to acquire Pete's
Source: freshplaza.com
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Pete's acquired by Local Bounti for $122.5M
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
Source: theproducenews.com
Local Bounti® to Acquire Pete's® for $122.5 Million Creating Leading CEA Operator with Largest National Retail Distribution Footprint
De-risks near-term operational execution, expanding upon existing market presence and creating a coast-to-coast footprint covering existing relati...
Source: businessinsider.com
Local Bounti® to Acquire Pete's® for $122.5 Million Creating Leading CEA Operator with Largest National Retail Distribution Footprint
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Source: apnews.com