NEW YORK - Aterian, Inc. (NASDAQ:ATER), a consumer products company, has made a strategic minority equity investment in 4th & Heart, a leading maker of premium ghee butter products in the United States.
The deal, which closed recently, saw Aterian invest approximately $200,000 in cash and around 145,000 shares of its common stock into the ghee producer. Specific terms of the transaction were not disclosed.
Joe Risico, Aterian's Co-CEO, expressed enthusiasm about the investment, stating that the company sees significant value in partnering with brands that promote healthier living, a philosophy that aligns with 4th & Heart's product offerings. Max Dichter, CEO of 4th & Heart, echoed this sentiment, saying the partnership would boost the company's growth in both current and emerging markets.
4th & Heart, based in Marina del Rey, California, has been operational since 2015, aiming to modernize pantries with ghee, a clarified butter that has roots in ancient Ayurvedic tradition. The company's ghee products are available in over 12,000 stores across the United States, including major retailers such as Whole Foods, Kroger (NYSE:KR), Albertsons (NYSE:ACI), Publix, Wegmans, and Walmart (NYSE:WMT).
Aterian's portfolio includes a range of consumer products sold through large online marketplaces, with a focus on Amazon (NASDAQ:AMZN) and Walmart in the U.S., as well as through its direct-to-consumer websites. The company's strategy involves building and acquiring leading e-commerce brands across various categories, including home and kitchen appliances, health and wellness, and air quality devices.
This investment in 4th & Heart is part of Aterian's broader vision to expand its product offerings and explore potential strategic opportunities between the two companies. The news release includes forward-looking statements that are subject to risks and uncertainties, including those related to customer demand, global shipping disruptions, and broader macroeconomic factors.
The information for this article is based on a press release statement from Aterian, Inc.
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