Business
Better For You Wellness Enters Definitive Agreement to Acquire The Ideation Lab, The Jordre Well, and Its Signature Brand, Stephen James Curated Coffee Collection with CBD Coffee Line
Better For You Wellness Enters Definitive Agreement to Acquire The Ideation Lab, The Jordre Well, and Its Signature Brand, Stephen James Curated Coffee Collection with CBD Coffee Line.
About this update from Better For You Wellness Inc.
[{"type":"text","content":"Columbus, Ohio - September 19, 2023 - Better For You Wellness, Inc. (OTCQB: BFYW), a dynamic Ohio-based wellness company at the forefront of plant-based, science-driven innovations in the rapidly expanding $1.5 trillion wellness industry, is delighted to announce a momentous step forward. The company has entered into a binding Membership Interest Purchase Agreement (MIPA) with The Ideation Lab, LLC (TIL) and its subsidiaries, signifying its intent to acquire these entities, subject to the terms outlined in the MIPA. TIL, an Ohio-domiciled company founded in 2019, has blazed a trail in the wellness sector with its visionary approach. TIL has pioneered innovation across diverse segments, including Functional Beverages, Skincare, Personal Care, Pet Lifestyle, and Women's Mental Wellness products. It has also distinguished itself through centralized administrative operations, ensuring seamless efficiency in its endeavors. The transaction, valued at three million dollars ($3,000,000), will be conducted entirely in BFYW stock. Under the deal, TIL shareholders will be issued Preferred Shares, though they may elect to receive Common Shares before October 1, 2023. Notably, key figures in TIL's leadership, including Jacob Ellman and Founders Ian James and Stephen Letourneau, holding nearly two-thirds of the company's equity, will opt for Preferred Shares. This strategic decision aims to minimize shareholder dilution while safeguarding management continuity. TIL's remarkable journey in centralized administrative operations has particularly excelled in the Functional Beverage sector. A crown jewel of TIL, The Jordre Well, and its Stephen James Curated Coffee Collection (SJCCC), a premium coffee brand, have already made significant waves in the market, securing sales channels at Kroger, Amazon, various resorts, retailers, and boutiques. SJCCC's Kroger sales span an impressive range of globally sourced whole bean dark, medium, and light roasts, with the Company's K-Cups and Nitro Cold Brew currently undergoing evaluation by multiple national retailers. TIL's strategic expansion plans include entry into other major grocery chains, retailers, and resorts, poised to amplify its market reach further. Its CBD coffee collection includes whole beans and ground coffee, with planned expansion into individual K-cup pods and canned Nitro ...