Planet Organic Finalizes Acquisition of 35-Store Chain

Planet Organic Finalizes Acquisition of 35-Store Chain

EDMONTON, AlbertaPlanetOrganic Health Corp. closed its acquisition of the Sangster group of companies,a master franchise with a retail chain of five corporate-owned stores, and 30franchisee-owned stores with locations across Canada.

Sangsters five corporate stores generated over CAD$1million in sales for the year ended April 30 while its 30 franchisee storesgenerated over CAD$9 million in sales for the same period. Sangsters earnedCAD$5 million in royalty and wholesale revenue from franchise and corporatestores.

The final purchase price was CAD$4 million, with CAD$2 millionin cash and the balance via the issuance of 3 million shares. In addition, thecorporation has assumed CAD$110,000 of Sangsters debt.