Business
EMERGE Acquires truLOCAL, the Market Leader in Direct-to-Consumer, Meat Subscriptions for up to $16.8M
EMERGE Acquires truLOCAL, the Market Leader in Direct-to-Consumer, Meat Subscriptions for...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Acquires truLOCAL, the Market Leader in Direct-to-Consumer, Meat Subscriptions for up to $16.8M\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n truLOCAL is EMERGE's 5\n \n th\n \n acquisition, largest deal to date,\n \n \n and is expected\n \n \n to\n \n \n be immediately accretive to earnings\n \n \n \n \n truLOCAL generated revenue of approximately\n \n $19.8 million\n \n (unaudited) in the twelve months ended\n \n December 31, 2020\n \n , representing over 130% growth year-over-year\n \n \n \n \n Acquisition provides EMERGE with its first monthly recurring subscription offering, premium customer base and highly strategic food technology platform\n \n \n \n \n The Transaction was funded with cash on hand and drawdown of remaining\n \n $3.0 million\n \n available from EMERGE's debt facility\n \n \n \n \n truLOCAL's award-winning founder and team, led by Marc Lafleur, will continue in their roles post-acquisition\n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 4, 2021\n \n /CNW/ -\n \n \n \n EMERGE Commerce Ltd.\n \n (\"EMERGE\" or the \"Company\") (TSXV: ECOM), a leading acquirer and operator of niche e-commerce brands, announces that it has closed the acquisition of all the issued and outstanding shares of\n \n truLOCAL\n \n Inc. (\"truLOCAL\") (\n \n www.trulocal.ca\n \n ) effective\n \n December 31, 2020\n \n (the \"Transaction\"). truLOCAL is a market leading, direct-to-consumer, locally sourced meat subscription service in\n \n Canada\n \n , with a growing presence in the US. truLOCAL was recently ranked as\n \n Canada's\n \n 14\n \n th\n \n fastest growing ...