BC-based Vejii Holdings, an online marketplace for plant-based and sustainable products in North America, is continuing to grow.
Vejii announced yesterday that it has completed the acquisition of VEDGEco USA, Inc., a leading online business-to-business wholesale platform for plant-based products, as of December 31, 2021.
“I would personally like to thank our advisors and team members on both sides who worked tirelessly over the holidays to ensure we close this transaction before year-end,” said Kory Zelickson, CEO of Vejii, in a release. “This allows our new combined teams to hit the ground running in 2022, and focus on growing our businesses and onboarding new customers and products to our platforms.
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According to Vejii’s release, the total purchase price for the acquisition was US$6.25 million. VEDGEco is the first nationwide plant-based wholesaler and key personnel are expected to continue to run the Hawaii-based company’s operations. Zelickson and fellow Vejii director Darren Gill have joined VEDGEco’s board of directors.
The acquisition of VEDGEco will significantly expand Vejii’s offering of plant-based brands, which can be seen at ShopVejii.com and VeganEssentials.com. The digital marketplace and fulfillment platform features thousands of plant-based and sustainable-living products from hundreds of vendors.
Synergies in purchasing, customer service, technology, and logistics will also boost both companies. Vejii will also be able to leverage VEDGEco’s existing facilities in Hawaii, Northern California and Georgia, while giving VEDGEco access to its facilities in Texas, Wisconsin, and Southern California. The latter will be Vejii’s soon-to-be operational third-party logistics operation.
The purchase of Vedgeco caps off a busy few months for the Vejii. The Kelowna-headquartered company announced 100% revenue growth over Q3 in the month of November 2021, completed the acquisition of Veg Essentials LLC in October, and commenced trading on the Canadian Securities Exchange under the symbol “VEJI.”
“Between going public and completing our acquisition of Vegan Essentials and then VEDGEco, 2021 closed on a high note for us,” said Darren Gill, president and COO of Vejii. “I feel we have proven our ability to execute our plans and objectives, getting two deals closed in two months, and the stage is now set for growth in 2022 as Vejii will be able to service our brand partners through our direct-to-consumer marketplace and business to business through the addition of VEDGEco.”
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