Acquisition expands Above Food's pet food business to approximately US$110M of combined company revenues on a proforma basis Strengthens customer base, further bolstering Above Food’s current roster of global leading pet food manufacturing customers Positions Above Food to capitalize on the US$26 billion global plant-based pet food market, projected to grow at a 9% compound annual growth rate (“CAGR”) through 2032 REGINA, Saskatchewan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Above Food Ingredients Inc
REGINA, Saskatchewan, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) (“Above Food” or the “Company”), an innovative food company leveraging its vertically integrated supply chain to deliver differentiated ingredients and consumer products, is pleased to announce that its subsidiary, Discovery Seed Labs, a company with unmatched expertise in seed testing, in collaboration with BASF Canada Inc. (“BASF”), has successfully developed a quantitative molecular assay
Acquisition creates substantial commercial synergies with Above Food's Saskatoon-based Ingredient Center, providing for additional opportunities to improve utilization and expand marginsExpands asset base with two additional ingredient processing and storage facilities in MontanaStrengthens Above Food's position in high-growth markets such as the US$26 billion plant-based pet food market, which accounted for approximately 40% (US$65M) of the acquired assets’ fiscal 2023 revenueEnhances leadershi