Simply Better Brands to merge with Jones Soda

VANCOUVER, BC. — Merely Higher Manufacturers Corp. (SBBC), which operates within the rising plant-based and holistic wellness shopper product classes, has reached an settlement to merge with Seattle-based Jones Soda Co., a maker of premium craft drinks.

As a part of the transaction, SBBC will purchase the entire issued and excellent widespread shares of Jones at a deemed worth of 75¢ per share, payable in absolutely paid and non-assessable widespread shares of SBBC based mostly on a value per share equal to $3.65. As well as, SBBC has agreed to imagine all of Jones Soda’s excellent debt. The mixture worth of the transaction is roughly $98.9 million, the businesses stated.

If the merger goes via, the mixed firm is anticipated to extend shareholder worth via operational synergies and accelerated gross sales progress in three areas: meals and beverage (Jones Soda and Trubar); plant-based wellness — CBD and THC (PureKana, Seventh Sense, Herve, Mirage and Mary Jones); and well being and sweetness (No BS Skincare).

“Our progress mannequin stays constant: purchase and construct rising Gen Z ‎and millennial manufacturers within the wellness house via class, channel and geographic growth,” stated Kathy Casey, chief government officer of SBBC. “We see ‎becoming a member of forces with Jones as an unbelievable match as a result of a standard wellness mission, shopper cohort, ‎and management strategy. Our earlier acquisitions of PureKana, Trubar and No BS manufacturers have yielded ‎large alternatives to gas our progress and we’re thrilled to have the chance for the enduring Jones model to affix our ‎increasing portfolio. We consider that along with fixing shopper issues within the wellness place, this newest transfer will likely be ‎basic to driving shareholder worth.”‎

Mark Murray, CEO of Jones Soda, stated the merger offers a possibility for Jones Soda to ship diversification to its core enterprise of craft drinks.

“We’re bringing collectively not solely sturdy shopper manufacturers but additionally ‎two sturdy administration groups that we consider will ship progress and operational synergies,” Mr. Murray stated.

Upon completion of the transaction, SBBC stated it plans to vary its title to Jones Soda or some derivation and select a brand new buying and selling image. Additionally at the moment, Jones Soda shares will likely be de-listed from the Canadian Securities Alternate.

SBBC’s companies embrace Tru Manufacturers, Inc., which was acquired in August 2021. Tru Manufacturers is a well being and wellness model specializing in nutritious snacks for girls. Based in 2018, Tru Manufacturers affords a line of dessert-inspired protein bars made with plant-based components similar to cassava, cacao and brown rice protein.

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