SusGlobal Energy Corp., developer of SusGro, a revolutionary pathogen free organic liquid fertilizer, announced that its wholly-owned subsidiary, SusGlobal Energy Canada Corp. (SusGlobal Canada) has entered into a non-binding letter of intent to acquire a soil media, plant nutrients and amendments producer approved for organic use and specifically formulated for producing high-quality fruit and flowering crops for an aggregate purchase price of USD$15,701,885 (CDN$20 million).
SusGlobal Energy Corp. is an industrial, environmental and agricultural biotechnology company focused on acquiring, developing and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative product applications globally.
The potential acquisition would advance SusGlobal's growth strategy and would align with the company's goal of growing market share and revenues. The acquisition will augment SusGlobal's existing service and products offerings in several regional markets, including Western Canada and the United States. The acquisition also creates an opportunity for SusGlobal to realize meaningful synergies with its feedstock infrastructure and distribution networks to boost earnings accretion.
The company expects the acquisition to generate USD$7,850,942 (CDN$10 million) in annual revenue for 2022 and additional opportunities from a geographical and market share approach with exponential revenue growth beginning in 2023.
RETURN to home page and read our latest New AG International issue, here.