Vejii Holdings has entered into a share purchase agreement to acquire VEDGEco USA Inc.
VEDGEco is a leading online business-to-business (B2B) wholesale platform for plant-based products.
“VEDGEco launched as one of the first online wholesale platforms dedicated to providing restaurants and independent grocers with a large selection of high-quality plant-based options,” said Kory Zelickson, CEO of Vejii.
“This meant that small business owners could at last gain access to a large selection of plant-based products and ingredients without the requirements that typical larger national distributors have in place, such as large minimum order sizes.”
Vejii will acquire 100 per cent of the issued and outstanding shares of VEDGEco for US$6,250,000.
The transaction is expected to close on or around December 31, 2021.
“We heard consistently from the brands that we serve that they were seeking to make the leap from e-commerce, to grocery and foodservice distribution. This could mean shipping samples, managing broker relationships, or gaining access to those restaurants and grocers not served by the larger wholesalers,” added Zelickson.
“We already work with our brand partners on a business-to-consumer (“B2C“) strategy through our marketplace, but now we can also help our brand partners get access to distribution in local restaurants and grocers, expanding Vejii’s capabilities from just B2C to also include B2B and food service.”
The acquisition will allow Vejii to leverage VEDGEco’s existing facilities in Hawaii, Northern California and Georgia, while providing VEDGEco with access to Vejii’s facilities in Texas, Wisconsin, and its soon-to-be operational third-party logistics operation in Southern California.
Vejii is a unified digital marketplace and fulfillment platform featuring thousands of plant-based and sustainable-living products from a growing list of hundreds of vendors.
Vejii Holdings Ltd. (VEJI) opened trading at C$0.20 per share.