Easton Pharmaceuticals, a healthcare firm based in Ontario, Canada, has announced it has completed its acquisition of bakery firm Supreme Sweets in a cash and stock deal.
Supreme Sweets operates a 40,000 sq ft facility in Toronto, where it produces traditional baked goods, including gluten-free and keto products, which it supplies to major grocery chains in North America, as well as specialty coffee chains, both under its own brands and as a contract packer.
In a press release, Easton Pharmaceuticals said the acquisition was strategic for it as it seeks to enter the “cannabis edibles” market, but that it would also continue to grow the traditional baked goods business with new specialty product launches.
The firm said the transaction included all the tangible and intangible assets of the company such as equipment, intellectual property and client lists.
Commenting on the deal, Mario Parravano, a co-founder of the Supreme Sweets business, said: “We are extremely excited to have completed this transaction and to be working with Easton to bring high quality baked goods to the market”.
Source: Easton Pharmaceuticals (via AccessWire)