Goli Nutrition Inc. has entered into an acquisition agreement with Group KPS, a longstanding distributor of Goli products, Bastion Capital, financier of consumer-based businesses, and one of Goli's original founders.
As part of a pre-packed process under the Companies' Creditors Arrangement Act (CCAA) in Canada, the agreement will be subject to court approval in Quebec and the U.S., but already has the support of Goli's lenders, according to the company. Until final approvals are obtained, Goli will continue its business operations and deliver its products to consumers, distributors, and retail partners. Once the deal is finalized, Goli said the company will look to take advantage of the resources provided by its group of acquirers.
"Group KPS is a long-standing distributor of Goli products, and we see strong long-term potential in the company's iconic brand, exceptional product quality, and high repeat purchase rates across its loyal consumer base," said Felipe Preciado, CEO of Group KPS, in the announcement.
The definitive acquisition agreement will not only strengthen Goli's balance sheet, but also facilitate new product innovation investments, the company said. This will allow Goli to maintain members of its original management team, and further strengthen its partnerships with retailers across the globe.
