Local Bounti® to Acquire Pete’s® for $122.5 Million Creating Leading CEA Operator with Largest National Retail Distribution Footprint
De-risks near-term operational execution, expanding upon existing market presence and creating a coast-to-coast footprint covering existing relationships at approximately 10,000 retail grocery doors. Enhances financial leadership within the controlled environment agriculture (“CEA”) industry by improving already leading unit-level economics. Immediately accretive with Pete’s 2021 estimated net revenue of $22.7 million, established track record of producing […]
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