PlantX Life Inc. (CSE:VEGA) (FRA:WNT1) (OTCQB:PLTXF) said it has closed on the transaction to acquire privately-held Little West LLC, a cold-pressed juice maker based in California, in an all-stock transaction.
The company announced on April 30, 2021, that its wholly-owned subsidiary PlantX Lifestyle USA Inc. had entered into a membership interest purchase agreement dated April 29, 2021, to acquire all of the issued and outstanding limited liability membership interest of Little West. The acquisition closed at previously disclosed terms, the company added.
PlantX Life said the acquisition of Little West provides it with expertise in the cold-pressed juice vertical which it is anticipated will enable the company to further grow in the North American market.
READ: PlantX Life to buy US cold-pressed juice maker Little West in an all-stock deal
Little West will continue to be run and operated by its founders Cassandra Troy and Andrew Walker, Brad Neumann and their California-based team, while leveraging PlantX's extensive e-commerce platform, technical business expertise and marketing resources in aims of promoting Little West products and accelerate the company's expansion across the US and Canada.
"It is truly exciting to finalize our Acquisition and partnership with Little West" said Sean Dollinger, PlantX founder in a statement. "We've already seen a lot of interest in the Little West cold-pressed juices since we announced our intention to acquire this amazing company, and we are very much looking forward to working together with Little West team and capitalize on our mutual strengths to enhance the Company's growth moving forward."
Regarded as a leader in quality standards and fresh taste for cold-pressed juice, Little West produces ultra-premium, small-batch, cold-pressed juices with no preservatives, concentrates, or added sugars. Founded in 2013 using fresh produce from farmer's markets, Little West stays true to their community roots and continues to source all fruits and vegetables from local family farms.
As the digital face of the plant-based community, PlantX's platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the company offers customers across North America more than 10,000 plant-based products.
In addition to offering meal and indoor plant deliveries, the company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an ecommerce platform. PlantX Life uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands.
Contact the author at jon.hopkins@proactiveinvestors.com