TORONTO: EuroLife Brands has entered into a Definitive Agreement to acquire 100 percent of the issued and outstanding securities of privately-held Plant & Co Marche Inc. by way of a share exchange agreement, a news release said.
Pursuant to the Agreement, EURO will acquire 100 per cent of the issued and outstanding shares in the capital of Plant & Co Marche Inc. in exchange for 2,336,000 common shares in the capital of the Company at a deemed price per share equal to $0.25.
Plant & Co Marche Inc. is a privately held Canadian corporation which owns and operates “Plant & Co Marche” in Toronto, Ontario. Plant & Co Marche is a hybrid health and wellness brand with a retail location offering niche products catering to health and wellness conscious consumers with a focus on plant-based, vegan, vegetarian, hemp, and specialty immune boosting products.
“The acquisition of the Plant & Co Marche brand and retail location is an excellent segue into the growing health and wellness sector in Canada. It secures our foothold into the Canadian retail space in a key demographical area that is heavily populated, giving us tremendous commerce opportunity in-store, as well as delivery and online e-com,” said Shawn Moniz, CEO of EuroLife.
“The flagship location in Toronto will be emulated in other key demographic markets and larger centres across the country. 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.”
“The Plant & Co Marche flagship location is strategically located in Little Italy of Toronto, where approximately 100,000 households, apartments, and business are located within a 30min walk of Plant & Co Marche. Our flagship store will re-open following adjustments to the design, layout, and management training. The new design represents a refresh to the current sector within Canada, offering a modern European aesthetic, integrating niche inventories catering to “all things” health and wellness, within the new COVID-19 retail environment”.
EuroLife and Plant & Co Marche have been collaborating with a variety of retail and consumer packaged goods experts to determine the final inventory product SKU’s as well as identify potential additional retail locations throughout Ontario, Quebec, and British Columbia. In addition, the Company has completed a go-to-market retail plan for various products within the EuroLife family of brands, which will tie in private label “Plant & Co” capabilities within retail, e-commerce, and home-delivery options.