Business
Wildpack Signs Definitive Agreement for Acquisition of Colorado-based Can Filling Business
Wildpack Signs Definitive Agreement for Acquisition of Colorado-based Can Filling Busines...
About this update from Wildpack Beverage Inc.
[{"type":"text","content":"\n \n \n \n Wildpack Signs Definitive Agreement for Acquisition of Colorado-based Can Filling Business\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}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 9, 2021\n \n \n /CNW/ - Wildpack Beverage Inc. (TSX-V: CANS) (\"Wildpack\" or the \"Company\") is pleased to announce that it has entered into a binding agreement to purchase, through a wholly owned subsidiary, all of the issued and outstanding securities of the capital of Vertical Distilling, LLC (\"\n \n Vertical\n \n \"), an established aluminum can filler, for cash consideration of\n \n US$4,500,000\n \n , subject to certain holdbacks (the \"\n \n Acquisition\n \n \").\n \n \n \n \n \n \n \n \n \n Vertical, a can filling company with a history of cash flow positive operations, is the leading filler in\n \n Colorado\n \n and the surrounding states, which is an important region in the middle market beverage industry and integral to Wildpack's growth strategy.  Vertical comes with an established sales force, operational expertise and entrenched customers.  Wildpack anticipates that there will be numerous synergistic opportunities arising from the Acquisition, including the addition of more shifts, the removal of throughput pinch points with light capital upgrades and the installation of new capabilities.  These synergies will be unlocked pursuant to Wildpack's standard ramp-up strategy following closing.\n \n \n \n Thomas Walker\n \n , Chief Growth Officer commented \"We have successfully completed two acquisitions pursuant to our previously announced letters of intent and are excited to see the third deal move to the definitive agreement stage. The completion of consecutive acquisitions and the signing of this definitive agreement demons...