Golden Grail Beverages Announces Strategic Update on UPDC Beverages Acquisition
Rhea-AI Summary
Golden Grail Beverages Corp. (OTC: GOGY) has announced plans to acquire the operational assets of UPDC Beverages through an Asset Purchase Agreement, rather than acquiring the company as a wholly owned subsidiary. The legal team is finalizing the agreement, expected to be executed in 2025.
UPDC Beverages operates a state-of-the-art facility in Naples, Florida, offering co-packing services for various beverage products, including energy drinks, carbonated beverages, and functional beverages. The facility specializes in bottling, canning, and filling services for containers ranging from shots to 32oz.
This acquisition aligns with GOGY's new business strategy for 2025, representing an important initial business move under the company's new management team.
Positive
- Strategic acquisition of UPDC's operational assets including state-of-the-art Naples facility
- Access to established co-packing capabilities for various beverage products
- Expansion into full-service beverage production infrastructure
Negative
- Delayed execution timeline extending into 2025
- Final agreement terms and purchase price not yet disclosed
News Market Reaction
On the day this news was published, GOGY gained 4.53%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FT. LAUDERDALE, Fla., Dec. 27, 2024 (GLOBE NEWSWIRE) -- Golden Grail Beverages Corp. (OTC: GOGY the “Company”), a leader in the beverage industry, known for its innovative and sustainable products, announced on December 11, 2024, that it would be entering into an acquisition agreement with United Product Development Corporation (UPDC Beverages), a Nevada corporation. To clarify, the Company intends to enter into a definitive Asset Purchase Agreement to acquire and assimilate the operational assets of UPDC Beverages, rather than acquiring the company as a wholly owned subsidiary.
Mr. Scott Lomo, GOGY CEO, states, “The Company has made the decision that the best course of action is to acquire the operational assets of UPDC Beverages. Our legal team is currently finalizing the draft of an Asset Purchase Agreement (and related ancillary exhibits) and expects to have the final agreements in place for execution by all interested parties in 2025. Again, this initial transaction under our new management team is part of our recently announced new business focus of the Company. As part of this new strategy, we intend to execute the proposed Asset Purchase Agreement to acquire the operational assets of UPDC Beverages in a seamless manner. We feel that this transaction is an important initial business move for the Company as it meets our business strategy for 2025. Upon full execution of the proposed Asset Purchase Agreement by all interested parties, we will make the required supplemental disclosures with OTC Markets, Inc. and post a post transaction press release.”
UPDC Beverages is a full-service co-packing partner to commercial clients offering a variety of services for complex and functional beverages, and operates a state-of-the-art facility in Naples, Florida (Naples Facility). They provide co-packing services for a wide range of beverage products specializing in bottling, canning and filling energy drinks, carbonated beverages, functional beverages, and liquid fills from shots up to 32oz. The Naples Facility has all the required equipment to handle multiple sizes of packaging and quantities, ensuring that its numerous clients have the flexibility they need to produce their products efficiently and cost-effectively. A view of the Naples Facility can be viewed at UPDC Beverages web site at www.UPDCBeverages.com
Disclaimer Regarding Forward Looking Statements
Certain statements that we make may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
About Golden Grail Beverages
Golden Grail Beverages is a rapidly expanding company dedicated to acquiring, innovating, and scaling a diverse portfolio of beverages. With a focus on sustainability and consumer engagement, Golden Grail is committed to providing high-quality, energizing, and refreshing drinks to its customers. For more information, visit https://goldengrailbeverages.com/
Contact Information
1-561-800-3891
info@goldengrailbeverages.com
https://goldengrailbeverages.com/
https://www.facebook.com/GoldenGrailBeverages
https://www.instagram.com/goldengrailbeverages/
https://twitter.com/goldengrailbev
FAQ
What assets is Golden Grail Beverages (GOGY) acquiring from UPDC Beverages?
When will GOGY complete the UPDC Beverages asset acquisition?
What production capabilities will GOGY gain from the UPDC facility?
How does the UPDC asset acquisition align with GOGY's business strategy?
