Alkame to acquire Bell Foods in US
Alkame has signed a series of agreements to acquire US-based Bell Foods International’s operating assets through a lease.
Bell Foods markets, imports, manufactures and packages natural, organic and gourmet speciality food products.
Alkame has also entered a property lease for Bell Foods’manufacturing facilities.
Alkame CEO Robert Eakle said: "This acquisition puts Alkame Holdings one step closer to achieving our longer-term goals, by expanding our product offerings, and utilises our patented water technology whenever possible.
“We can expand our brands, as well as our co-pack offerings with both hot and cold fill production capabilities for both beverage and food offerings.
“This acquisition fits nicely with our other subsidiaries and longer-term vision for our new facility and additional space."
Under the terms of the agreement, Bell Foods will lease out its manufacturing facility and equipment to Alkame for a period of five years, giving it a purchase option at the end of the lease.
The company will also acquire certain trademarks and brands from Bell Foods, along with the customer list, accounts receivable, supplier list, production methods, and inventory.
Alkame anticipates that the acquisition will add nearly $1.5m to its annual revenue.
The deal will also give the company the ownership and title to the product expansion product offerings of various brands such as Everyday Gourmet Fine Foods, Everyday Organic Fine Foods, Mr Jalapeno, and NutraBell Gourmet Fine Foods.