MamaMancini's acquires T&L Creative Salads and Olive Branch for $14M

Mama's Creations, Inc.

Combined purchase price $14M: $11M cash at closing plus $3M promissory note to T&L shareholders.
Funding includes $7.5M term loan from M&T Bank (5-year maturity, variable SOFR-based interest).
Acquisitions of T&L Creative Salads and Olive Branch LLC closed Dec 29, 2021.
Anthony Morello Jr continues as CEO of T&L Acquisition Corp, the acquiring subsidiary.
Expands MamaMancini's gourmet food manufacturing and product portfolio.

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