M&A
confidence high
sentiment positive
materiality 0.75
LFTD Partners signs LOI to acquire Fresh Farms for ~$45.6M in cash and stock
LFTD PARTNERS INC.
- Total consideration of $14.17M cash plus 7.08M unregistered shares valued at $31.45M using $4.44 closing price.
- Fresh Farms reports unaudited YTD 2021 revenue >$17M (doubled 2020's $8M) and pre-tax profit ~$7M.
- Closing conditioned on $50M capital raise by AQSP, acceptable due diligence and audit, and definitive agreements.
- Fresh Farms co-founders to remain as CEO, Sales Manager, Director of Sales, and consultant under 5-year rolling deals.
- Acquisition would add e-liquid brands Fruitia, HAPPI, JUS, and 80% of Lift Brands North America.