Agrify Corporation Acquires Lab Society

February 2, 2022

Agrify Corporation (Nasdaq: AGFY) acquired Lab Society, a Boulder-based maker of distillation and solvent separation equipment for the cannabis extraction industry, for $8 million in cash and stock plus an earnout of up to $3.5 million. The deal adds Lab Society’s hardware and proprietary EliteLab software to Agrify’s extraction product portfolio and is expected to be accretive in early 2022; Lab Society reported approximately $10 million in revenue for 2021.

Buyers
Agrify Corporation
Targets
Lab Society
Industry
Manufacturing
Location
Colorado, United States
Transaction Type
Buyout

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