Golden Grail Beverages Acquires UPDC Beverages
Deal News | Dec 11, 2024 | Globenewswire
Golden Grail Beverages Corp., a recognized leader in the beverage industry, has strategically acquired United Product Development Corporation (UPDC Beverages), a subsidiary of UPD Holding Corp. Operating a high-tech co-packing plant in Naples, Florida, UPDC Beverages is known for versatile services in the beverage production industry. This acquisition aligns with Golden Grail's growth strategy, aiming to amplify its market presence through seasoned operations and profit-generating assets. The company issued 20,000,000 shares of common stock to complete the acquisition, thereby making UPDC Beverages a wholly-owned subsidiary. This move is part of Golden Grail's broader goal to expand its innovative, sustainable product lineup, underscoring their commitment to enter high-growth industries. The announcement includes forward-looking statements underlining future plans and strategic objectives but warns of inherent risks and uncertainties involved.
Sectors
- Beverage Manufacturing
- Co-Packing
Geography
- United States – The parent company, Golden Grail Beverages, and acquired entity UPDC Beverages are based in the United States, with key operations in Florida.
Industry
- Beverage Manufacturing – Golden Grail Beverages and UPDC Beverages operate within the beverage manufacturing industry, offering innovative and diverse product lines.
- Co-Packing – UPDC Beverages specializes in co-packing services, providing bottling and canning for various types of beverages, crucial for commercial beverage distribution.
Financials
- 20,000,000 shares of Common Stock – Golden Grail Beverages issued 20,000,000 shares to acquire UPDC Beverages.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Golden Grail Beverages Corp. | Buyer | Company | A leader in the beverage industry, focusing on innovative, sustainable products. |
| UPDC Beverages | Target | Company | A full-service co-packing company offering comprehensive beverage production services. |
| UPD Holding Corp. | Vendor | Company | The holding company under which UPDC Beverages operates prior to the acquisition. |
| Scott Lomu | CEO | Person | CEO of Golden Grail Beverages, leading the strategic acquisition of UPDC Beverages. |