Boosh Plant-Based Brands acquires Saltspring Harvest through all-asset purchase

Boosh Plant-Based Brands Inc (CSE:VEGI) (OTCPink:VGGIF) has entered into an asset purchase agreement with Saltspring Harvest to acquire all the assets comprising Saltspring Harvest’s business.

Established in 2016 by Chef Zoe Currelly, Saltspring Harvest offers plant-based, protein-rich alternatives to meat and dairy focused pâtés and spreads. The vegan végé-pâté and spreadable dips use organic sunflower seeds, vegetables, and other whole-foods ingredients.

Inline with Boosh’s product offerings, Saltspring’s végé-pâté and seed-based spreadable dips have a high content of plant-based protein and are free from gluten, eggs, dairy, and nuts. 

READ: Boosh to tackle sales in the US ‘very methodically’ with help of Thrive Natural Sales

The total purchase price for the Saltspring assets is $150,000 of which $50,000 will be paid on or around July 23, 2021 (the closing date).

 The remaining $100,000 will be paid upon completion of a three-month transition period, in a $75,000 cash payment, the other $25,000 will be raised through the issuance of 28,409 common shares of the company priced at $0.88 per share.

Boosh has also agreed to pay Saltspring the value of inventory and prepaid expenses, and will bring Chef Zoe on as a branding manager for at least six months.

“We’re delighted to welcome Chef Zoe and her team at Saltspring Harvest into the Boosh family,” Connie Marples, Boosh’s founder, said in a statement.  “At Boosh we strive everyday to offer our customers high quality, delicious, plant-based heat-n-eat entrees. Now with the purchase of the Saltspring Harvest assets, we’re able to expand our offerings to include high quality appetizers and snack foods with this line of végé-pâté and vegan and seed based spreadable dips. Best of all, organic sunflower seeds are so sustainable!”

She went on to note that the organic sunflowers are drought resistant, use much less water to grow compared to nuts and are loved by birds and bees.

Chef Currelly also offered commentary on the new deal.

“We’re extremely excited that Saltspring Harvest is now part of the Boosh Brands. The Boosh team has so much skill and expertise. Connie has been transformative in the plant-based industry, as well as being a visionary, and we can’t wait to expand our vegan végé-pâté and spreadable dips beyond the greater Vancouver area,” said Curelly. “We are eager to see the products we have lovingly nurtured over the past several years be redefined, refined, and grown.”

Last month, Boosh engaged the services of Thrive Natural Sales, an award-winning, nationally recognized premier food broker. Thrive Natural will serve as the company’s US representative as it begins its expansion into the American market. 

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Story by ProactiveInvestors