NEW YORK, NY / ACCESSWIRE / September 6, 2023 / TRxADE Health, Inc. (NASDAQ:MEDS), known for its pharmaceutical exchange platform, has recently merged with Superlatus, Inc., a leading food technology and distribution company. The combined entity has now announced a binding agreement to acquire The Urgent Company, Inc. along with its portfolio of popular consumer brands Coolhaus, Brave Robot, Modern Kitchen, and California Performance Co. These brands are currently owned by Perfect Day, Inc.
This acquisition is expected to significantly enhance Superlatus' position in the development of sustainable and fair food products. It should also enable the combined company to easily enter new markets and increase its market share.
A notable aspect of this deal is that Natasha Case, the Founder of Coolhaus, will be reintegrated into the brand as the Chief Brand Officer. Additionally, she will also serve as an advisor for Superlatus' wider range of brands.
The acquisition will contribute to the continued expansion of the acquired consumer brands' presence in retail stores. Currently, these brands' products are already available in over 6,000 stores nationwide, including popular outlets like Whole Foods, Thrive Market, Kroger, Costco, and numerous independent markets across the country.
"We are excited to welcome the Coolhaus, Brave Robot, Modern Kitchen and California Performance Co. brands to our portfolio of CPG assets," shared Superlatus interim CEO Tim Alford. "Together, our shared interest in the sustainable and equitable food sectors will, we believe, allow us to expand our market presence and pursue a number of new opportunities to grow our brands together."
Urgent Company general manager and co-founder Paul Kollesoff added, "Bringing together our companies' social and climate missions is deeply meaningful to us. We believe the work we do now will determine if our children can continue to enjoy the food we eat and the planet we inhabit for years to come. This deal also directly speaks to the value The Urgent Company has created in the precision fermentation category and will help continue to satisfy the growing consumer appetite for these delicious, sustainable products."
The sustainable and fair food products market is experiencing remarkable growth, driven by increasing consumer demand for environmentally friendly and ethically sourced food. According to a recent report by Bloomberg Intelligence, the global market for plant-based foods is predicted to grow fivefold by 2030, propelled by the rising popularity of sustainable products. Another study conducted by the Economist Intelligence Unit found that there has been a significant increase in the popularity of searches for sustainable goods, with a 71% rise in the past five years. This growth is reflective of a growing awareness among consumers about the environmental impact of their food choices and their preference for products that align with their values. With more people seeking sustainable and fair food options, companies like TRxADE Health seem well-positioned for continued expansion.
Featured photo by Eduardo Soares on Unsplash.
Contact:
Scott Powell, President, Skyline Corporate Communications Group, LLC
scott@skylineccg.com
SOURCE: TRxADE HEALTH, Inc
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