FISHERS, Indiana, May 13, 2020 /PRNewswire/ -- Sustainable Projects Group (OTCQB: SPGX) (SPGX), has acquired 100% of the rights for Soy-Yer Dough, the Bloomfield, Indiana-based producer of sustainable, non-allergenic modeling dough from inventors Sawyer and Samantha Sparks.
Soy-Yer Dough is a gluten- and wheat-free, non-toxic, fun-scented modeling playdough that is made in the USA and designed to allow all children, including those with allergies, to enjoy the same fun and creative activities. Soy-Yer Dough has been sold to all 50 states and many countries internationally. With hundreds of retailers, Soy-Yer Dough has been able to reach hundreds of thousands of customers.
Under the terms of the all-share agreement, SPGX has acquired complete ownership of the marketing and distribution rights, as well as all equipment and inventory previously controlled by Soy-Yer Dough. Going forward, the product line and rights thereto will subsequently be operated as a wholly-owned subsidiary of SPGX under the name YER Brands, Inc. Current management Sawyer Sparks will become CEO of YER Brands, while Samantha Sparks will continue to lead production activities.
"We've come a long way from our early days on ABC's Shark Tank, but it was important for us to find a partner who could help us reach a larger audience," said Sawyer Sparks, CEO of YER Brands. "We're excited to leverage the production and distribution expertise of SPGX so that many more children can enjoy this simple fun without any fears."
Stefan Muehlbauer, CEO of SPGX, commented: "Sawyer and Samantha have done an excellent job designing a fun, safe product and building it into a profitable business that fills a unique void. We plan to shift production of Soy-Yer Dough to the Rushville facility we recently secured on behalf of Cormo USA, which will benefit both businesses by reducing overhead and consolidating sourcing, production, and distribution. SPGX looks forward to incorporating this well-known and proven brand into our portfolio to the next stage of Soy-Yer Dough's growth as part of the SPGX family."
The acquisition is expected to be immediately accretive, and SPGX currently anticipates additional synergies between Soy-Yer Dough and its other portfolio companies, including Cormo USA, over the coming months. With the addition of Soy-Yer Dough, SPGX's portfolio of companies increases from three to four.
About Sustainable Projects Group Inc.
SPGX is positioned to become a world-leading project incubation and development company through value-based investments and collaborative partnerships with global leaders across the sustainable and social-responsibility sectors. Sustainable Projects Group has initiated its goals by pursuing investment and partnerships with some of the most diversified and integrated companies active in the market. Learn more at www.SPGroupe.com.
About YER Brands Inc.
The newly formed YER Brands Inc., a portfolio company of SPGX, will produce and market sustainable, gluten-free modeling dough known as Soy-Yer Dough in Central Indiana with a focus on expansion in the U.S. market. The company begins production in May 2020 in Rushville, IN, and expects to greatly expand capacity over the next year. Learn more about Soy-Yer Dough and its products at www.soy-yer.com.
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Investor Relations:
Gateway Investor Relations
Matt Glover or Charlie Schumacher
Phone: 949-574-3860
Email: ir@spgroupe.com
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SOURCE Sustainable Projects Group Inc.