Business
Caduceus Completes McLovin's Acquisition
Caduceus Completes McLovin's Acquisition.
About this update from Caduceus Software Systems Corp.
[{"type":"text","content":"CHEYENNE, WY / ACCESSWIRE / August 9, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC PINK:CSOC) ("Caduceus" or the "Company"), a publicly traded Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry is pleased to announce it has completed and closed on its acquisition of McLovin's Pet Food ("McLovin").On August 9th, 2021, McLovin signed off on final terms of acquisition and executed the transaction, therefore becoming a wholly owned subsidiary of Caduceus.Alex Chen, Chief Executive Officer and Director of Caduceus, stated: "We have been working tirelessly to get to this point. We are looking forward to the next step in this journey. McLovin's team has been actively developing sales and new distribution channels. We cannot wait to announce the progress achieved so far on that front. This is the first of many great announcements by the Company regarding execution of its Strategy to create value for shareholders and to reach the requirements for an up listing to the Nasdaq."The global pet food market size is expected to reach USD 127.21 billion by 2027, exhibiting a CAGR of 4.60% during the forecast period. In 2019, the market value stood at USD 90.13 billion. The demand for high-quality and organic foods for pets is being driven by owners' concerns about their pets' health and boosting this market, shares. (Fortune Business Insights™ report titled "Pet Food Market, 2020-2027")The Pet food and treat sales in the U.S. increased 9.7% in 2020, adding USD 3.7 billion for a total of USD 42 billion for the year, according to the American Pet Products Association (APPA). Continued healthy growth is estimated for 2021. The APPA expects this general resilience and growth to continue in 2021, projecting above-average increases again for pet food and pet supplies at 5% and 6%, respectively. The growth for pet food would result in an estimated USD 44.1 billion in sales for 2021."Working with Caduceus and its dedicated team has already started reaping rewards before even the closing happened. I believe becoming part of Caduceus is the catalyst that will propel McLovin's higher. We are very fortunate to have been able to raise funds to expand our operational capacity with the help of the Caduceus team and its backers. The demand for pet food,...