The all-share transaction sees Toronto-based EuroLife acquiring the hybrid health and wellness brand with a downtown retail location that offers niche products for consumers with a focus on plant-based, vegan, vegetarian, hemp and specialty immune-boosting products.
Plant & Co’s downtown Toronto storefront in the bustling Little Italy neighbourhood boasts 2,200-square feet of retail space as well as a fully-licenced outdoor patio. EuroLife and Plant & Co are collaborating on a new design concept for the store to reflect a “modern European” aesthetic, according to the firm.
In a statement, EuroLife CEO Shawn Moniz told shareholders that the acquisition is an “excellent segue” into the growing health and wellness sector in Canada.
"The flagship location in Toronto will be emulated in other key demographic markets and larger centres across the country,” Moniz said in a statement. “Utilizing our previous experience in consumer behaviour and consumer targeting and analytics, we will aim to take this unique brand in the health and wellness sector to greater heights. We have an aggressive plan for expansion and will continue to look for opportune acquisition targets in Canada and North America."
Under the terms of the deal, Eurolife will acquire 100% of the issued and outstanding shares in the capital of Plant & Co Marche in exchange for 2,336,000 EuroLife shares priced at C$0.25.
Closing is subject to regulatory approval.
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