Eat Well Group (CSE: EWG) (OTC: EWGFF) (FRA: 6BC0) announced the closing of its investment deal with Amara Organic Foods, originally announced on October 28, 2021. As a result, Eat Well now controls a majority ownership position in Amara, one of America’s fastest-growing baby food brands.
The deal saw Eat Well acquire a preferred equity position in PataFoods, dba Amara Organic Foods, including its option to acquire an additional 29% of the Amara shares at a USD $100 million valuation for a total acquisition price of USD $29 million.
Commenting on the company’s milestone deal, Eat Well President Marc Aneed stated:
The acquisition of a majority position in Amara Organic Foods will further reinforce Eat Well Group’s vertical integration strategy. Amara is sold throughout major North American retailers, including Whole Foods, Costco (NASDAQ: COST), Amazon (NASDAQ: AMZN), and Walmart (NYSE: WMT).
Amara Founder & CEO Jessica Sturzenegger also commented on the deal:
“This investment and broader collaboration with Eat Well Group could not have come at a better time. We are incredibly excited to be working with Eat Well Group to deliver more healthy and nutritious meals to families across the globe. By continuing to grow with our customer, from baby food to toddlers and beyond, we’re building a platform for a lifetime of healthy eating. Our science and technology can bring truly better options for the modern-day parent for breakfast, lunch, and dinner! We look forward to utilizing Eat Well Group’s capital, strategic experience, and operating ecosystem to bring parents healthy, nutrient-dense options that fit into their daily lives.”
“We are proud of what Jessica and her team at Amara have accomplished to date and anticipate this investment will provide a material impact to our growth in 2022 and beyond,” added Aneed.
Eat Well shares closed trading today at $0.61, down -1.61% on the day. EWG stock is up +408.33% YTD and +662.5% over the past year.
Eat Well Investment Group is a paid client of Wealthy VC.
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