USA: Nutroganics to acquire assets of Wholesoy & Co
Nutroganics has announced that it has signed a letter of intent to acquire certain assets of the organic soy yoghurt producer Wholesoy & Co.
Wholesoy is a leading soy yoghurt brand distributed nationally to natural foods retailers such as Whole Foods and specialty grocers such as Fairway Market. The company generates approximately $7 million in annualized revenue.
"Wholesoy is a terrific brand in the natural foods industry, which would fit well within the Nutroganics portfolio", said David Sackler, CEO of Nutroganics. "We look forward to working with Wholesoy's management as we strive to close the transaction".
The transaction is subject to several conditions, including working out suitable terms with Wholesoy's vendors and certain Wholesoy creditors. The terms of the acquisition were not disclosed.