Wildpack to Acquire Can Filler Verticla Distling
Wildpack Beverage Inc has entered into a birring agreement to purchase, through a wholly owned subsidiary, all of the issued and outstanding securities of the capital of Vertical Distiling LLC, an established aluminum can filler, for cash consideration of USD 4.5 million subject to certain holdbacks.
Vertical, a can fling company with a history of cash flow positive operations, is the leading filler in Colorado and the surrounding states, which is an important region in the middle market beverage industry and integral to Wildpack’s growth strategy. Vertical comes with an established sales force, operational expertise and entrenched customers. Wildpack anticipates that there will be numerous synergistic opportunities arising from the Acquisition, including the addition of more shifts, the removal of throughput pinch points with light capital upgrades and the installation of new capabilities. These synergies will be unlocked pursuant to Wildpack’s standard ramp-up strategy following closing.
Subject to certain conditions, Wildpack anticipates that the Acquisition will be completed prior to the end of August. 2021. at which time the Company’s ramp-up strategy will commence.