Arcadia Biosciences Acquires Lief Brands Portfolio and Select Zola Assets
May 17, 2021
Arcadia Biosciences acquired the assets of Lief Holdings, LLC (including Soul Spring, Saavy Naturals and Provault) from The Parent Company and selected assets of Live Zola, LLC (Zola coconut water) in a transaction valued at roughly $4.0 million in cash plus 827,400 shares. The deal brings approximately $6 million of recurring annual revenue, a GMP‑licensed 20,000 sq. ft. manufacturing facility, and distribution relationships in more than 5,000 stores to Arcadia as it expands into consumer CBD and wellness products.
- Buyers
- Arcadia Biosciences, Inc.
- Targets
- Lief Holdings, LLC, Live Zola, LLC
- Sellers
- The Parent Company, Live Zola, LLC
- Industry
- Consumer Products
- Location
- California, United States
- Transaction Type
- Divestiture
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