Planethic Group, formerly as Veganz Group AG, (VEZ.DE) announced Wednesday that it has entered into a definitive agreement to acquire Suplabs GmbH, a German producer of innovative food and other supplements, aiming to strengthen its e-commerce business.
The transaction will be for a price of 0.5 million euros through the issue of 33,333 new Planethic shares. The shares are not subject to any contractual lock-up period.
Suplabs, the developer of 'Heal All-in-One' a complete daily supplement, focuses on recurring revenue and integration into the direct-to-consumer or DTC market.
As part of the deal, Planethic's Veganz business unit will be merged with Suplabs.
Planethic said the acquisition strengthens its strategic focus on functional foods, develop new technologies, and expands its expertise in the DTC and e-commerce business.
On XETRA in Germany, shares closed Tuesday's regular trading at 14.35 euros, up 1.06%.
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