Mergers & Acquisitions
By The Online Investor Staff, updated Sun., Jan. 29, 5:59 PM
| This Slide: #13 of 100 |
Slide #13. AgriFORCE Growing Systems Ltd. — Berry People LL
Acquirer:
AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI)
Acquiree:
Berry People LL
Details:
AgriFORCE Growing Systems Ltd. ("the Company") (NASDAQ: AGRI; AGRIW),an intellectual property (IP)-focused agtech company dedicated to advancing sustainable cultivation practices and food and plant products, today announced it has entered into a binding letter of intent ("LOI") to acquire Berry People LLC, ("Berry People"), a berry business with an increasingly international footprint and a scalable platform model. The acquisition bolsters the AgriFORCE Brands division and allows the Company to realize commercial synergies with UN(THINK), which aims at innovating in the specialty flour and grain-based products categories.
Agriforce Growing Systems is an agriculture-focused technology company that delivers solutions for high value crops through its proprietary facility design and automation intellectual property to businesses and enterprises globally. Co. operates in the plant based pharmaceutical, nutraceutical, and other high value crop markets using its proprietary facility design and hydroponics based automated growing system that enable cultivators to grow crops in a controlled environment. Co. calls its facility design and automated growing system the "Agriforce grow house". Co. designed its Agriforce grow house to produce in virtually any environmental condition and to optimize crop yields.
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