- Vegalab (OTCQB:VEGL) purchased substantially all of the assets related to a produce packaging business located in Tulare County, California.
- The total purchase price for the Business, including closing costs, was $854,452.
- David Selakovic, CEO of Vegalab Inc. (OTCQB:VEGL), stated, "We acquired M&G to facilitate our long term strategic and financial growth. With several of M&G's customers already using Vegalab's all natural products to maximize the yield and increase the number of premium quality fruits produced in their citrus groves, we believe this acquisition will produce tremendous synergies between our packing business and our all-natural agro-chemical business. By seamlessly integrating the entire process from planting to packaging; by supplying growers with products that increase their yields of premium quality fruits; by packing their fruits efficiently; and by giving them access to our network of international buyers who pay the highest prices for premium quality citrus, we expect to grow both businesses rapidly."
- Press Release
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