secwatch.observer — SEC 8-K summary
======================================

Issuer:     INNOVATIVE FOOD HOLDINGS INC (IVFH)
CIK:        0000312257
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001185185-24-001009
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/312257/000118518524001009/0001185185-24-001009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/312257/000118518524001009/innovfood20241018_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-001009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer