TORONTO — Freshii Inc. has signed an agreement to acquire a majority stake in the rapidly growing online health-and-wellness product retailer, Natura Market Ecommerce Inc., and upon closing will have rights to acquire 100 per cent of the business through Q1 2025.
Although the businesses will be run separately, Freshii plans to use insights from Natura’s sales data to get ahead of food-and-beverage trends, while Natura will benefit from access to Freshii’s shared-service infrastructure.
Specifically, Freshii will pay $5.7 million in return for the initial 60-per-cent portion of shares, with the price for the remaining 40 per cent of Natura’s shares to be determined based on the company’s EBITDA performance through the relevant period. The transaction is expected to close in Freshii’s fiscal fourth quarter.
“Today is an exciting day for Freshii as we continue our growth as an omni-channel health and wellness leader by adding Natura Market Ecommerce to our group of businesses,” says Matthew Corrin, founder and CEO of Freshii. “Natura Market is a rapidly growing, self-funded and founder-led online retailer with an aligned mission of making on-trend, healthy products available at scale across Canada. We’re pleased to be adding this high-growth platform to the channels where Freshii customers can get the latest and greatest in better-for-you food, beverages, snacks and more. Natura Market, a business with more than $19 million in sales over the last 12 months and no debt, will make an immediate positive impact on our overall business and significantly expands Freshii’s presence and capability in the delivery and digital commerce spaces.”
“My team and I launched Natura Market in the Canadian ecommerce space ve years ago as we sought to make emerging health brands and products more widely available through our retail site. Today’s announcement is a testament to the incredible dedication and work this group has put in and the strong reputation we have built with Canadian consumers,” says Shakhzod Khabibov, founder of Natura Market. “This acquisition will allow us to continue to grow rapidly, to benefit from the expertise and brand recognition that Freshii brings to the table and continue to exceed customer expectations in a rapidly evolving retail climate.”