Business
JADE ART GROUP, INC ANNOUNCES STOCK PURCHASE AGREEMENT TO ACQUIRE DESSERT INNOVATIONS II, LLC
JADE ART GROUP, INC ANNOUNCES STOCK PURCHASE AGREEMENT TO ACQUIRE DESSERT INNOVATIONS II, LLC.
About this update from Jade Art Group, Inc.
[{"type":"text","content":"Birmingham, AL., July 29, 2022 – Jade Art Group, Inc. (“JADA” or the “Company”) (OTC: JADA) announced today it has signed a Stock Purchase Agreement to acquire Dessert Innovations II, LLC (“Dessert Innovations”), an Atlanta-based baked goods manufacturing Company. Upon closing the acquisition, Dessert Innovations will operate as a wholly-owned subsidiary of the Company.Wayne Sellers, CEO of the Company, said, “We are thrilled to add Dessert Innovations to our holding Company; as one of the core strengths of our senior management team, baking is in our “sweet spot.” Our management team has over 60 years of combined experience in the baking industry. Dessert Innovations’ high-quality products produced on state-of-the-art robotics provide cost-effective manufacturing, which companies like Nutrisystem depend on along with national retail chains. Dessert Innovations is filling a significant void in the bakery market with more competitive and affordable products consumers love at value prices. In business in Atlanta for almost 38 years, we are grateful for the opportunity to bring them into the JADA family.”The parties anticipate closing the acquisition in August 2022. Tony Ereddia, President and CEO of Dessert Innovations, stated that this was the best situation for the company and the employees. Our customers will gain in resources available to them by joining the Jade Art Group family, and we look forward to the future.Jade Art Group, Inc. is a Birmingham, Alabama-based food, technology, safety, agriculture, and energy company.Dessert Innovations occupies 60,000 square feet of automated and high-speed robotic production space, with the ability to produce several baked product lines. Dessert Innovations, which has been in business since 1985, supplies retail vendors nationally. Dessert Innovations holds the following inspection credentials, BRC, USDA, GDA Diary, and OU-D Kosher certified.Forward-looking statementsCertain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions, or developments that the Company expects or anticipates may occur in the future. In some cases, forward-...