Naturally Splendid $NSP Acquires Prosnack Natural Foods Inc.

Naturally Splendid(TSX.V:NSP) (OTCQB:NSPDF) (Frankfurt:50N)

Naturally Splendid Enterprises Ltd. is pleased to announce that it has acquired all of the issued and outstanding shares of Prosnack Natural Foods Inc. pursuant to the terms of the previously announced share purchase agreement, as amended, and closed the final tranche of its previously announced private placement financing by issuing a total of 1,854,639units for gross proceeds of $333,835.

Naturally Splendid will now take ownership of approximately $300,000 of automated manufacturing equipment in Prosnack’s manufacturing facility, located in North Vancouver. The facility complies with several certifications including; SQF Level 2, Kosher and Gluten free. These certifications provide the Company access to large retail operations both domestically and globally.

Prosnack’s innovative “Elevate Me(TM)” brand focuses on lifestyle and healthy meal replacement products that include energy bars and on-the-go oatmeals that are currently distributed throughout North America and more recently have begun sales into international markets. The Elevate Me(TM) brand can be found in over 1,000 retail stores in North America including major retailers such as Costco, Whole Foods, Choices, Save On Foods, Sobeys, London Drugs, Thrifty’s, Rexall and many more.

“We are excited to be part of NSE, to expand our products into their customer base, and their products into our customer base across Canada and Internationally.”

-Mr. Alan Maddox, Prosnack Co-founder

In addition to the variety of products under the Elevate Me(TM) brand, a unique feature of Prosnack is its ongoing strategy of private labelling for major retailers in North America and co-packing for other manufacturers globally. Prosnack sells product to over 1000 stores across Canada, with their brand “Elevate Me(TM)” as well as Private Label and Co-Packing for Canadian retailers and manufacturers. The combination of Elevate Me(TM) products and its private label clients is almost $8,000,000 CDN in sales over the past four years.

“Our acquisition of Prosnack accomplishes all three key elements of a successful acquisition; strong management; a strong brand with significant distribution; and synergies in manufacturing. First, we have the benefit of Alan Maddox, who has been appointed Executive Vice President of Sales & Marketing. His years of experience will significantly strengthen our ability to engage national retail accounts across Canada and the US. Second, both Elevate Me(TM) and NATERA(R) branded products will be marketed to Alan’s extensive network of contacts. In many cases, this will be NATERA’s(R) premier exposure to these national accounts. Thirdly, the acquisition of Prosnack is strategic and synergistic to our revenue and margin objectives and is consistent with our values to support a plant-based, healthy-eating food sector. Efforts to improve margins by lowering input and overhead costs, without negatively affecting the operating effectiveness of both organizations, is underway.”

-Dave Eto, CEO of Naturally Splendid