Freshii agrees to acquire majority control of one ofCanada's leading online health and wellness retailers, and upon closing will have rights to acquire 100% of the business through Q1 2025- Transaction marks a significant milestone in Freshii’s omnichannel expansion strategy and ensures
Freshii is well-positioned in the rapidly evolving ecommerce wellness channel - On closing, the transaction will have an immediate material impact to Freshii’s top-line revenue and increase digital transactions significantly
Natura Market has grown rapidly since inception in late 2016 to$19M in revenue in trailing 12-month period as atSeptember 30, 2021 Natura Market is a founder-led Canadian business with aFreshii -aligned mission, strong customer reviews and loyalty as well as expertise in health trend identification, supply chain management and digital advertising- Natura Market’s founder, Shakhzod Khabibov, will continue as President of
Natura Market which will be run as a standalone business unit with shared services support - Funded with cash-on-hand while allowing
Freshii to maintain adequate liquidity for ongoing operations
FRESHII EXPANDS OMNICHANNEL FOOTPRINT WITH ACQUISITION OF A MAJORITY STAKE IN HEALTH AND WELLNESS ECOMMERCE RETAILER
"Today is an exciting day for
"Natura Market, a business with over
NATURA MARKET - A FAST-GROWING PLAYER IN THE HEALTH AND WELLNESS ECOMMERCE SCENE
Natura Market, launched in late 2016 by Shakhzod Khabibov, has enjoyed rapid growth without external investment, gained customer confidence and loyalty and become a market leader in identifying cutting edge health and wellness products and making them available to Canadian consumers.
With a 4.8-star rating on
"Natura has built an organization with best-in-class logistics and supply chain capabilities, digital marketing presence and product selection expertise. The rest of the
While the
General oversight of the Natura business will be provided by a board comprised of the senior management of
"We are really pleased with today's announcement and welcome the entire Natura team to
"My team and I launched Natura Market in the Canadian ecommerce space five years ago as we sought to make emerging health brands and products more widely available through our retail site. Today’s announcement is a testament to the incredible dedication and work this group has put in and the strong reputation we have built with Canadian consumers," said Khabibov. "This acquisition will allow us to continue to grow rapidly, to benefit from the expertise and brand recognition that
TRANSACTION DETAILS
The transaction is expected to be financed entirely through Freshii’s available cash on hand.
Subject to customary closing conditions, the transaction is expected to close in Freshii’s fiscal fourth quarter.
FRESHII’S OMNICHANNEL GROWTH STORY
Eat. Energize. That’s the
Since it was founded in 2005,
Today, with the exciting announcement of the acquisition of a majority stake in Natura Market, one of
"Bringing in Natura Market marks another significant step in our omnichannel journey and allows
For more information, please contact: natura@freshii.com
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ABOUT NATURA MARKET
Natura Market believes that clean eating should be easy and effortless... so why isn’t it? Anyone with dietary restrictions knows how hard it is sometimes to find the right ingredients you need to make your favourite meals diet-friendly. Well, Natura got tired of that too. The days of having to search and scour are over!
That’s why Natura is dedicated to offering its customers a unique food shopping experience, without the hassle of sorting through hundreds of products. Don’t sweat it; Natura has already done the work for you! Natura has talked to suppliers, read the labels, and carefully sorted its products into easy to browse categories.
Visit Natura Market: www.naturamarket.ca
Non-IFRS Measures and Industry Metrics
We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including restaurant industry metrics, in the evaluation of companies in the restaurant industry. Our management also uses non-IFRS measures and restaurant industry metrics, in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of executive compensation. For a: (i) detailed definition of each of the non-IFRS measures and industry metrics the Company uses; and (ii) a reconciliation of these non-IFRS measures, please refer to the “Non-IFRS Financial Measures and Industry Metrics” section of the Company’s Management’s Discussion and Analysis dated
Forward-Looking Information
Certain information in this news release contains forward-looking information and forward-looking statements under applicable securities laws. Particularly, statements which reflect the current view of management with respect to expected benefits of the transaction, the closing of the transaction, including the anticipated timing thereof, the satisfaction of all conditions to closing the transaction including, without limitation, obtaining all necessary consents and approvals, the ability of the Company to leverage the synergies that may exist between the Company and Natura, the Company's objectives, plans, goals, strategies, outlook, results of operations, financial and operating performance, prospects and opportunities, including the Company’s strategic pillars (specifically its omnichannel expansion), the ability of the Company to generally maintain its existing cash position and to reinvest, and the Company’s plans with respect to its CPG and nutritional supplement business lines (including product innovation) constitute forward-looking information. In many but not necessarily all cases, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe", “lead”, “continue”, “plan”, “design”, “likely” and similar expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the information in this news release containing forward-looking information or forward-looking statements is qualified by these cautionary statements.
Forward-looking information and forward-looking statements are based on information available to management at the time they are made, underlying estimates, opinions and assumptions made by management and management's current belief with respect to future strategies, prospects, events, performance and results. These estimates, opinions and assumptions include that: the Company and Natura will be able to satisfy all conditions to closing the transaction; the COVID-19 pandemic and associated government regulation, expected consumer behaviour and other matters will not have a materially different impact on the business, operations or financial performance of the Company and Natura than what is currently anticipated by management; the continued availability of food commodities used by
Forward-looking information is subject to inherent risks and uncertainties surrounding future expectations generally, including, among other things, that such estimates, opinions and assumptions may not be accurate, particularly given the dynamic nature of the COVID-19 pandemic and the events and circumstances resulting from or associated with that pandemic, the potential disruption of management’s attention from the Company’s ongoing business operations as a result of the transaction, and the impact of the announcement of the transaction on the Company’s business, changes in market and competition, governmental or regulatory developments and a change in overall economic conditions generally. Such risks and uncertainties also include, but are not limited to, those described in the “Risk Factors” section of the Company’s Annual Information Form dated
Readers are urged to consider these risks, uncertainties and assumptions carefully in evaluating the forward-looking information and forward-looking statements and are cautioned not to place undue reliance on such information and statements. There can be no assurance that such information will prove to be accurate, as actual results and future events can differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any such forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For further information contact:
Investor Relations
ir@freshii.com
1.866.337.4265
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