Canada: Simply Better Brands and Jones Soda to merge

Plant Based and holistic wellness firm Simply Better Brands Corp. and Jones Soda Co, manufacturer and distributor of premium craft beverages, have announced that the two companies have executed a binding letter in which Simply Better Brands will acquire the Jones Soda company and its assets.

According to sources, the combination of the two rapidly growing companies is expected to produce an accelerated growth in the areas of food and beverage, plant based wellness products, and health and beauty.

The CEO of Simply Better Brands, Kathy Casey, said: “Our growth model remains consistent: acquire and build emerging Gen Z ‎and Millennial brands in the wellness space through category, channel and geographic expansion. We see ‎joining forces with Jones as an incredible fit due to a common wellness mission, consumer cohort, ‎and leadership approach”.

The merger will have Simply Better Brands purchase 100% of the issued and outstanding common shares of Jones Soda at a deemed value of $0.75, payable with its own shares, valued at US$3.65 per share.

After the transaction, Simply Better Brands plans to change its name to Jones Soda.

Sources: GlobalNewsWire/Food Business News