Eurolife Brands (EURO.C), together with one of their subsidiaries, entered into an amalgamation agreement with Holy Crap Brands today, according to a press release.
The official line on Holy Crap Brands is that they’re a company focused on innovative brands and products to improve lives through simple, quality ingredients. The unofficial line is that they showed up on CBC’s Dragon’s Den and boosted through brand recognition or they likely wouldn’t be here. They offer cereals, including four different SKUs, and all are gluten-free, certified organic and kosher, plant-based and non-GMO.
“Aside from its unforgettable name, Holy Crap is a quality product that tastes great. The acquisition of Holy Crap Brands Inc. will be the second plant-based business we have acquired and is part of our continued growth strategy within the health and wellness sector in Canada. We look forward to taking this unique brand in the health and wellness sector to greater heights. We have an aggressive plan for revenue growth and will continue to look for opportune acquisition targets in North America,” said Shawn Moniz, CEO of EuroLife.
Made in Gibsons, British Columbia, the cereal company’s products can be found in supermarket chains like Whole Foods, Save-On-Foods, and London Drugs, as well as through their website www.holycrap.com and through Amazon. They pulled in a respectable $340,000 in revenue in the six months before June 30, 2020.
“The merger with EuroLife is a natural evolution in the life cycle development of Holy Crap. Increasing our company’s exposure to both investors and consumers will greatly enhance our brand and expansion opportunities. Uniting the teams at Holy Crap and EuroLife has numerous synergies which will provide a very bright future in the Plant-Based food space which is growing exponentially,” said Derek Ivany, CEO of Holy Crap.
Eurolife will be at arms-length from Holy Crap and its shareholders and the amalgamation won’t necessarily effect any fundamental changes in its operation or structure.
Here’s how they’ve been doing: