AgriFORCE to Acquire 70% of Berry People LLC
January 24, 2023
AgriFORCE Growing Systems Ltd. entered a binding letter of intent to acquire a 70% equity stake in Berry People LLC for a total purchase price of $28.0 million (approximately $18.2M cash and $9.8M in restricted shares), with potential earnouts over five years. The deal is intended to bolster AgriFORCE's Brands division, expand distribution and vertical integration in fresh berries, and realize commercial synergies with its UN(THINK) business and other partners.
- Buyers
- AgriFORCE Growing Systems Ltd.
- Targets
- Berry People LLC
- Industry
- Agriculture
- Location
- California, United States
- Transaction Type
- Buyout
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