CANADA: Isodiol International , a global Bioactive CBD innovator specializing in the development of pharmaceutical and wellness products, is proud to announce that its wholly owned subsidiary, IsoBev Inc., has reached a definitive agreement to acquire 100% of Azure Bottling, a premier water bottling facility located in Leesburg, Florida.
Azure is a state of the art facility and was named as one of the top 50 Florida companies to watch for economic impact by GrowFL last year. Azure also won the 2017 gold medal for Best Tasting Water at the Berkeley Springs International competition under its affiliated brand AlphaPure.
Azure has in place the manufacturing and distribution agreements to supply water to Sysco, McArthur Dairy / Dean Foods, and Dollar General Stores throughout the United States. In total, Azure full capacity runs approximately 5.3 million bottles per month and expects this to increase to approximately 8.58 million bottles after space and efficiency improvements over the next several months.
IsoBev focuses on the Company’s exceptional growing beverage brand portfolio and will capitalize on these enterprise level companies for additional support and distribution of all beverage brands created in-house. This alignment now brings into the organization of the company’s beverage business operations with its core growth strategies for meaningful scale, and clearly defined portfolio role that targets growth with enterprise marketplace opportunities.
“The acquisition of the Azure water bottling facility is an important milestone for Isodiol,” said Marcos Agramont CEO of Isodiol. “This facility unlocks the value of our beverage portfolio such as our CBD and hemp waters and the growth potential of some of our core business competencies. It is the next logical step in our ongoing effort to accelerate our growth trajectory and maximize value for our shareholders,” said Agramont.
IsoBev, Inc. is acquiring 100% interest in Azure in a combination of cash and stock. $1,000,000 cash will be paid upfront, as well as $300,000 in six months. Azure will also receive $1,000,000 in 36 month escrowed stock based on the closing price March 26, 2018.