IVFH acquires Golden Organics for $1.75M; $6.8M TTM revenue, organic growth strategy

INNOVATIVE FOOD HOLDINGS INC

Purchase price $1.75M: $1.4M cash + $350K 5-year seller note at 6% interest; inventory valued at ~$1.4M covers cash outlay.
Golden Organics has $6.8M trailing-twelve-month revenue, 22% CAGR since 2018, and positive net income each year.
Adds 800+ incremental organic items, 200+ customers across restaurants/food manufacturers/retailers; no customer >8% of sales.
Taeshaud Jackson appointed President of Golden Organics; has food distribution experience from U.S. Foods, Americold, DHL.
Transaction costs ~$75K; expected to close in Q4 2024; cross-selling and back-office synergies targeted post-closing.

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