PlantX plans to acquire, a 25-year-old US commercial domain

Digital platform PlantX announces acquisition of online e-commerce domain and intellectual property and associated assets.

“We look forward to adding this valuable area to our operations, bringing it together under one home”

In business since 1997, Vegan Essentials is known as a “one-stop shopping destination” for plant-based groceries, housewares and clothing. Stocking over 2,200 products in various categories, the US-based website also sells a wide selection of plant-based meats and cheeses and offers worldwide shipping.

Under the terms of the transaction, PlantX and Veji Holdings Ltd. (CSE: VEJI) (OTC: VEJIF) to acquire and related assets for an aggregate purchase price of CA$900,000 (US$675,000), to be paid in cash and common stock post-regrouping. Closing is expected to be completed no later than October 15, 2022.

©PlantX Market

Build the portfolio

“The acquisition is expected to build on and complement PlantX’s extensive portfolio of e-commerce websites that serve the plant community,” said Alex Hoffman, chief marketing officer of PlantX. “PlantX expects to provide existing content and promote existing products, through this domain name, with limited investment of additional employees or infrastructure.”

PlantX is a fast-growing digital platform that brings 5,000 plant-based products to consumers across North America. Over the past several months, PlantX has embarked on a series of expansion efforts in the United States and Canada, including opening a 6,000 square foot vegan grocery store in Chicago and is expanding its plant-based meal delivery service. In 2021, the company revealed that it had started the process to become a NASDAQ listed company.

“Extensive customer database”

“It’s a testament to our significant progress, in just two years, that we’re able to acquire the oldest and one of the most established estates in the vegan space,” said PlantX’s CEO. , Lorne Rapkin. “The The domain performs extremely well with organic search due to its strong brand name and comes with an extensive customer database. Adding it to our e-commerce portfolio will help expand our presence and allow us to attract and better serve customers. We look forward to adding this valuable domain to our operations, bringing it together under one house.”