Promising news for the Plant-Based sector: All outstanding common shares of Sol Cuisine Ltd. ( $VEG.V) will be purchased by PlantPlus Foods in cash for $2.06/share, which represents a 211% premium to the 5-day volume-weighted average trading price of $VEG.
This news shows what premium companies are paying for plant-based products and I think this news is directly relevant to one of my top plant-based meal picks.
Nepra Foods Inc. ($NPRA.C $NPRFF) is a plant-based and allergen-free food company that uses alternative ingredients to most other PB food companies to create a more protein-rich product.
$NPRA could easily be next for something like the $VEG deal.
They are up over 8% today after announcing that they are receiving equipment to expand the production of their proprietary textured hemp protein.
This protein is the main ingredient in their line of ready-to-eat frozen meals and vegan meats.
I am guessing that $NPRA's stock price rise is due to everyone wanting to stock up because it is anticipated that their frozen meal line (PROPASTA) is going to be a big success.
$NPRA @ 0.79, MC is $28.59 M
What do yall think of this news and what it says about the PB sector? Also, what are some of your PB food company picks?
$NPRA news:https://www.baystreet.ca/viewarticle.aspx?id=672524
$VEG news: https://www.newswire.ca/news-releases/plantplus-foods-llc-to-acquire-sol-cuisine-ltd-for-all-cash-consideration-832666785.html