VANCOUVER, BC. — Boosh Plant-Based mostly Manufacturers Inc. has acquired considerably all of the belongings of Beanfields Inc. Monetary phrases of the transaction weren’t disclosed.
Based in 2010 and headquartered in Los Angeles, Beanfields manufactures gluten-free, non-GMO, vegan, high eight allergen-free flavored bean-based chips and different snacks.
“On boarding a well-liked US model like Beanfields is a significant catalyst for Boosh,” stated TJ Walsh, vp of gross sales at Boosh. “We consider one of many key parts to rising Beanfields revenues is the flexibility to introduce the merchandise to the membership channels and increasing our standard chains. And second, we plan on leveraging the prevailing 7,000 shops that supply Beanfields merchandise and introduce the Boosh line entrees, pates and cheese.”
As a part of the transaction, Boosh has dedicated to offering Beanfields combination working capital funding of $1 million to be expended on the discretion of Boosh, of which $250,000 was funded upon the execution of the asset buy settlement on Feb. 11. The rest is to be funded on or earlier than March 10. Source