Holy Crap's brands include plant-based, gluten free and kosher products that are available across Canada at retailers like Whole Foods
Inc () (OTCPINK:EURPF) has announced plans to acquire Holy Crap Brands Inc, makers of the popular granola that was first introduced to Canadians on CBC’s Dragon’s Den.
Holy Crap has since expanded its line to include plant-based, gluten-free and kosher products that are available across Canada at retailers like Whole Foods and Save-On-Foods.
The acquisition is a three-cornered amalgamation that results in Holy Crap becoming a subsidiary of EuroLife, which yesterday announced plans to rebrand itself as Plant & Co Brands.
READ: EuroLife Brands to change name to Plant & Co Brands to reflect its focus on the booming health and wellness sector
Under the terms of the roughly C$8.7 million deal signed on November 25, EuroLife’s wholly-owned subsidiary will amalgamate Holy Crap into its business in exchange for 28 million EuroLife shares (which were worth around C$0.31 on Wednesday) in exchange for one Holy Crap share held. In addition, EuroLife will issue four million warrants exercisable at C$0.40 under the same terms as existing Holy Crap warrants. The amalgamated company will become a wholly-owned subsidiary of EuroLife.