Fast Moving Consumer Goods, Inc. Announces Spin Off of Hempacco Subsidiary

Rhea-AI Summary

Fast Moving Consumer Goods (OTC: GGII) has completed the spin off of its 49% stake in subsidiary Hempacco, which manufactured and distributed hemp-derived consumer products. As of June 30, 2026, Hempacco’s balance sheet and results were deconsolidated from FMCG’s condensed consolidated financial statements.

According to the company, its 49% interest in Hempacco was exchanged with the entity’s majority owners in return for their assuming all Hempacco debts, obligations, and legal liabilities, totaling over $10 million. Management stated that the transaction significantly reduced FMCG’s debt and legal exposure and allows greater focus on its core consulting, formulation, incubation, and consumer-product support services, primarily conducted through wholly owned subsidiary Lucky To Be Beverage Co.

Positive

• Over $10 million of Hempacco debt and liabilities transferred away from FMCG
• Hempacco balance sheet and results deconsolidated as of June 30, 2026
• Management expects lower operating expenses and debt service after the spin off
• Company refocuses resources on core FMCG consulting and LTBB consumer-product operations

Negative

• FMCG relinquishes its former 49% ownership stake in Hempacco
• Company no longer consolidates any future financial results from Hempacco’s hemp-derived products business

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The Company Outlines Future Direction of Company

LAS VEGAS, NV / ACCESS Newswire / August 24, 2026 / Fast Moving Consumer Goods, Inc.(ticker:GGII), formerly Green Globe International, Inc.,("Company" or "FMCG"), today announced that it recently spun off its subsidiary, Hempacco, Inc., which was 49% owned by the Company at the time. Hempacco was engaged in the manufacturing and distribution of hemp‑derived consumer products, including smokable hemp goods and related accessories. As a result, Hempacco's balance sheet and results of operations were deconsolidated from the Company's condensed consolidated financial statements as of June 30, 2026. The 49% of Hempacco was exchanged with that entity's majority owners in consideration for their assuming all Hempacco debts, obligations, and legal liabilities, amounting to over $10 million.

Commenting on the spin out, FMCG's CEO, Sandro Piancone commented, "As a management team, we determined that the liabilities of Hempacco far outweighed the benefit of continuing our further involvement. This spin out allowed us to shed almost all of the Company's debt and legal exposure, leaving us in a position to create increased shareholder value through substantial reductions in operating expenses and debt service."

Management further stated that the spin out enables the Company to focus its energy and resources to building the core business of providing custom formulation, supply‑chain management, brand development, mentoring, mastermind programs, and related commercial support services to consumer‑product clients.

About Fast Moving Consumer Goods, Inc.

FMCG is a Delaware corporation with a wholly owned subsidiary, Lucky To Be Beverage Co. ("LTBB"), a Nevada corporation. FMCG is a holding and consulting company that provides custom formulation, supply‑chain management, brand development, mentoring, mastermind programs, and related commercial support services to consumer‑product clients. LTBB is engaged in brand management, consumer‑product manufacturing, distribution, and related commercial operations. Together, the Company operates a dual‑model structure consisting of (i) consulting, formulation, incubation, and brand‑development services conducted by FMCG, and (ii) consumer‑product manufacturing and supply‑chain operations conducted through LTBB. FMCG operates the nation's first fast moving consumer goods incubator and manages one of the largest communities of FMCG founders and CEOs with more than 45,000 LinkedIn members. www.fmcgstock.com

For more information, visit https://www.fmcgstock.com

Media Contact

Fast Moving Consumer Goods
(619) 975-6556
Website: www.fmcgstock.com
LinkedIn Group: https://www.linkedin.com/groups/140132/

SOURCE: Fast Moving Consumer Goods, Inc.

View the original press release on ACCESS Newswire

FAQ

What did Fast Moving Consumer Goods (GGII) announce about its Hempacco subsidiary on August 24, 2026?

Fast Moving Consumer Goods announced it had recently spun off its 49% stake in Hempacco. According to the company, Hempacco’s balance sheet and results were deconsolidated from FMCG’s condensed consolidated financial statements effective June 30, 2026, ending FMCG’s consolidated involvement in Hempacco.

How much debt did Fast Moving Consumer Goods (GGII) remove through the Hempacco spin off?

The Hempacco spin off transferred over $10 million of Hempacco debts, obligations, and legal liabilities. According to Fast Moving Consumer Goods, these liabilities were assumed by Hempacco’s majority owners as consideration for FMCG exchanging its 49% stake in the subsidiary.

How does the Hempacco spin off affect Fast Moving Consumer Goods’ (GGII) financial statements?

Hempacco’s balance sheet and operating results were deconsolidated from Fast Moving Consumer Goods’ condensed consolidated financial statements as of June 30, 2026. According to the company, this removes Hempacco-related liabilities and is expected to reduce FMCG’s reported debt and legal exposure going forward.

What strategic benefit does Fast Moving Consumer Goods (GGII) expect from the Hempacco spin out?

Fast Moving Consumer Goods expects the spin out to significantly reduce debt and legal exposure, improving its financial flexibility. According to the company, it also enables management to focus resources on its core consulting, formulation, incubation, and brand-development services for consumer-product clients.

What is Fast Moving Consumer Goods’ (GGII) core business after spinning off Hempacco?

After the Hempacco spin off, Fast Moving Consumer Goods positions itself as a holding and consulting company. According to the company, it focuses on custom formulation, supply-chain management, brand development, mentoring, mastermind programs, and related commercial support services, mainly through wholly owned subsidiary Lucky To Be Beverage Co.

Does Fast Moving Consumer Goods (GGII) still own any part of Hempacco after the spin off?

Fast Moving Consumer Goods exchanged its entire 49% ownership interest in Hempacco as part of the spin off. According to the company, that stake was transferred to Hempacco’s majority owners in return for those owners assuming all Hempacco debts, obligations, and legal liabilities.