Closing of its Acquisition of Land and Sea Packaging VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ - Wildpack Beverage Inc. (TSXV: CANS) (OTC: WLDPF) ("Wildpack" or the "Company") is pleased to announce that it has closed the strategic acquisition of KT Murray Corporation dba Land and Sea Packaging ("Land and Sea") (See: Press Release dated November 1, 2021), an established high-volume aluminum can brokering business based in Grand Rapids, Michigan, for US$37.2 million (the "Acquisition") and associated financing transactions.
Terms of the Acquisition of Land and Sea were first announced November 1, 2021, and the purchase price was paid through a combination of US$26.1 million cash and the issuance of 12,718,499 common shares of Wildpack ("Common Shares"), subject to certain adjustments and holdbacks.
Thomas Walker, Chief Growth Officer of Wildpack said, "Bringing Land and Sea onto the Wildpack team creates great immediate synergies while setting the stage for a new long-term growth avenue. Land and Sea is best-in-class at packaging sales, brokering, and supply chain optimization. We have a thorough integration strategy in place to ensure that Wildpack absorbs the impressive learnings of Land and Sea while offering them the support of our nationwide filling and decorating services. Their company culture is a perfect fit for Wildpack and we expect to see some exciting progress from their team. Adding another successful, much larger acquisition under our belt has shown our deal team and process is continuing to prove itself capable of executing and constantly improving. We are confident future acquisitions will continue to be smooth."