Sire Bioscience buying snack brand company
July 23, 2020, Mississauga, Ont. – Sire Bioscience Inc. has entered into a binding letter of intent (LOI) to acquire the shares of protein snack brand Amino Balls Inc.
Upon satisfaction of the closing conditions set out in the LOI, including successful completion of due diligence on Amino Balls, the company expects to issue 8.8 million common shares to effect the transaction.
Amino Balls is a plant based, on-the-go snacking company. The company’s products are plant-based, high-protein, have good fats, are high in fibre and gluten-free.
“We’re excited about moving this acquisition forward since the plant based market is exploding,” said Sire CEO Brian Polla. “With the extensive channel partners we gained with the Fusion Nutrition Inc. acquisition we’ll be able to quickly execute and scale Amino Balls real estate.”
The company states that the super-clean approach to anytime snacking is portion optimized and in a practical format that makes Amino Balls highly shareable, which is also part of the marketing strategy.
SIRE’s has 50 acres of prime horticultural land in Leamington, with a 160,000-square-foot facility of combined greenhouse and indoor space. Sire’s goal is to become a vertically integrated CPG life science company.