Golden Grail Enters Acquisition Agreement with UPDC Beverages
Deal News | Dec 27, 2024 | Globenewswire
Golden Grail Beverages Corp., a leader in the beverage sector known for its sustainable products, announced its intention to acquire the operational assets of UPDC Beverages from Nevada. This acquisition will involve entering a definitive Asset Purchase Agreement, rather than acquiring UPDC as a wholly owned subsidiary. The CEO of Golden Grail, Mr. Scott Lomo, emphasized that the move aligns with the company's strategic objectives for 2025. UPDC operates a state-of-the-art co-packing facility in Naples, Florida, offering services in bottling, canning, and filling various beverages. The transaction is anticipated to be completed in 2025, with all necessary disclosures planned for OTC Markets, Inc.
Sectors
- Beverage Industry
- Mergers and Acquisitions
Geography
- United States – UPDC Beverages is a Nevada corporation with operations in Florida, and Golden Grail Beverages is based in Florida, making the USA the geographical focus.
- Florida – Golden Grail Beverages is headquartered in Ft. Lauderdale, FL, and UPDC Beverages has a facility in Naples, FL.
Industry
- Beverage Industry – Involves the production, distribution, and sale of drinks, both alcoholic and non-alcoholic. Relevant to the acquisition as both Golden Grail and UPDC operate within this sector.
- Mergers and Acquisitions – Focuses on the buying, selling, and combination of companies to aid growth or restructure operations. Applies to Golden Grail's acquisition strategy with UPDC Beverages.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Golden Grail Beverages Corp. | Acquiring Company | Company | A company focused on acquiring and scaling beverage brands with an emphasis on sustainability. |
| United Product Development Corporation (UPDC Beverages) | Target Company | Company | A co-packing partner for commercial clients offering services for various beverages. |
| Scott Lomo | CEO of Golden Grail Beverages | Person | Overseeing the strategic acquisition of UPDC Beverages' assets. |