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Plant-Based Boosh Brand Acquires Beanfields

February 15, 2022: 12:00 AM EST
Vancouver-based Boosh has signed an agreement deal to acquire assets of Beanfields Inc. for $8 million in shares and a US$400,000 promissory note at 6 percent annual interest. Boosh also agreed to commit almost $1 million to Beanfields for working capital. The deal is expected to close mid-February 2022 and would make Boosh one of the world’s largest plant-based food companies. Beanfields makes gluten-free, vegan, non-GMO, vegan bean-based chips free of the top eight allergens, in eight flavors and received the 2019 "Rising Star Award" from the Natural, Organic, Sustainable and Healthy (NOSH) organization. NOSH also chose its June 2021 Rings line as the Best New Product for 2021. Boosh expects to benefit from substantial operational and cost synergies, but the article mentioned that “Beanfields' expenses have historically exceeded its revenue, though it had recently adopted big restructuring measures”. 
Uttara Choudhury, "Boosh acquires Beanfields, one of the fastest growing producers of plant-based snacks in the US and Canada", Proactive Investors (NA), February 15, 2022, © Proactive
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