Greene Concepts has completed the 100% acquisition of Mammoth Ventures, a holding company which includes the 60,000ft2 beverage and bottling facility located just outside of Asheville, NC.
The acquisition of the holding company also includes the building, all bottling equipment, fixtures, inventory and any and all other assets held and owned by Mammoth Ventures Inc. This is a 100% acquisition of Mammoth Ventures Inc. and its assets, including the bottling facility, are now a wholly-owned subsidiary of Greene Concepts Inc.
The bottling facility is located in the heart of the foothills of the Appalachian Mountains within the boundaries of the Pisgah National Forest near the base of Mount Mitchell, the highest peak in Eastern North America.
With the production lines that are currently in place the facility has the capacity to produce approximately 8 million cases per year. Within the present facility, there is plenty of room to expand with additional bottling lines for future growth.
Lenny Greene, interim CEO of Greene Concepts Inc., stated, “I am very pleased to be a part of Greene Concepts acquisition of Mammoth Ventures and the North Carolina bottling facility.
This acquisition will greatly enhance the balance sheet of Greene Concepts with the addition of a major asset on the books in addition to the growth potential for the company within the specialty beverage industry. I am very happy for all of our shareholders. The Company will soon be announcing the incoming transition of a much respected new management team.”
Source: Company Press Release.