VANCOUVER, BC. — Boosh Plant-Based Brands Inc. has acquired considerably all of the belongings of Beanfields Inc. Financial phrases of the transaction weren’t disclosed.
Founded in 2010 and headquartered in Los Angeles, Beanfields manufactures gluten-free, non-GMO, vegan, prime eight allergen-free flavored bean-based chips and different snacks.
“On boarding a popular US brand like Beanfields is a major catalyst for Boosh,” mentioned TJ Walsh, vice chairman of gross sales at Boosh. “We believe one of the key elements to increasing Beanfields revenues is the ability to introduce the products to the club channels and expanding our conventional chains. And second, we plan on leveraging the existing 7,000 stores that offer Beanfields products 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 the rest is to be funded on or earlier than March 10.