Freshii inks deal to buy majority stake in online wellness retailer Natura Market

Freshii Inc. says it has signed a deal to buy a majority stake in health and wellness product retailer Natura Market ECommerce Inc., with rights to acquire the rest of the business through the first quarter of 2025.

The Toronto-based company says it will pay $5.7 million plus potential performance incentives in return for the initial 60 per cent stake.

It says the price for the remaining shares will be based on the company’s earnings before interest, taxes, depreciation, and amortization for the relevant period.


Click to play video: 'Man in Brandon Freshii argues about masks'







Man in Brandon Freshii argues about masks


Man in Brandon Freshii argues about masks – Aug 25, 2020

Freshii, which operates restaurants and sells nutritional supplement products in-store and online, says the deal marks a milestone in its expansion into the e-commerce wellness market.

Story continues below advertisement

Natura Market, which recorded over $19 million in sales over the last 12 months and has no debt, will be run as a standalone business unit with the company’s founder, Shakhzod Khabibov, staying on as president.

Matthew Corrin, founder and CEO of Freshii, says Natura Market will make an immediate positive impact on Freshii’s overall business.

“Natura Market is a rapidly growing, self-funded and founder-led online retailer with an aligned mission of making on-trend, healthy products available at scale across Canada,” he said in a statement.

“The way people access health and wellness is evolving and the acquisition of Natura Market ensures that Freshii is well-positioned to meet the next generation of customers where they are.




© 2021 The Canadian Press

FOLLOW US ON GOOGLE NEWS

 

Read original article here

Denial of responsibility! WebToday is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Comments
Loading...