VANCOUVER, BC, May 18, 2021 /CNW/ - Eat Beyond Global
Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE:
988) ("Eat Beyond" or the "Company"), an
investment issuer focused on the global plant-based and alternative
food sector, is announcing that its portfolio company good
natured® (TSXV: GDNP) has acquired the operating
assets of Ex-Tech Plastics Inc ("Ex-Tech"), for cash consideration
of $14.1 million (USD). The deal is
anticipated to close later in May.
Ex-Tech Plastics manufactures high-quality, rigid plastic
sheets. Its stated mission is to create pathways to a greener
future through the production of environmentally responsible
materials. Founded in 1982, Ex-Tech has steadily grown to be
a market leader in cost-effective customized plastic solutions for
businesses.
"Following a strong financial first quarter, Eat Beyond is happy
to see portfolio company good natured® continue
its positive momentum with this significant acquisition of a
long-tenured plastics company based in Illinois," Eat Beyond CEO Patrick Morris said. "Ex-Tech offers six
different material types, offering a key part of the value chain as
businesses and consumers look for sustainable, environmentally
friendly products and services."
good natured® offers nearly 400 different
products and services. It is one of the largest North
American suppliers of eco-conscious products made without petroleum
and free from BPAs, phthalates, and other chemicals of concern.
Ex-Tech generated $25.8 million
USD ($33 million CAD) in the
2020 fiscal year which will enable good natured®
to nearly double its revenue following the acquisition. At
closing, good natured® will gain $3.25 million in working capital.
"This is the third acquisition by good
natured® in the past year, which will add 105
business-to-business customers for good natured®,
growing its tally to approximately 600 while providing cost
synergies and opportunities to scale operations," Morris said.
"Real estate gains will also increase total assets to nearly
$10 million, as good
natured® gains an impressive midwestern market
presence, not far from the third-largest city and seventh largest
cargo airport in America."
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Learn more about good
natured® here: https://goodnaturedproducts.com/pages/about-us
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS)
(OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it
easy to invest in the future of food. Eat Beyond identifies and
makes equity investments in global companies that are developing
and commercializing innovative food tech as well as plant-based and
alternative food products. Led by a team of food industry experts,
Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the
unique opportunity to participate in the growth of a broad
cross-section of opportunities in the alternative food sector, and
access companies that are leading the charge toward a smarter,
more secure food supply. Learn
more: https://eatbeyondglobal.com/
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SOURCE Eat Beyond Global Holdings Inc.