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    LOCL — Local Bounti News Story

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    Brief: Local Bounti® To Acquire Pete's® For $122.5 Million Creating Leading CEA Operator With Largest National Retail Distribution Footprint

    Picture of Local Bounti logoLocal Bounti
    15/03/2022 13:00
    March 15 (Reuters) - Local Bounti Corp  LOCL.N :
    * LOCAL BOUNTI® TO ACQUIRE PETE'S® FOR $122.5 MILLION
CREATING
LEADING CEA OPERATOR WITH LARGEST NATIONAL RETAIL DISTRIBUTION
FOOTPRINT
    * LOCAL BOUNTI CORP - DEAL IS IMMEDIATELY ACCRETIVE
    * LOCAL BOUNTI CORP - ANTICIPATED THAT ALL OF PETE'S 130
EMPLOYEES
WILL JOIN LOCAL BOUNTI FOR A COMBINED TOTAL HEADCOUNT OF 250
EMPLOYEES
    * LOCAL BOUNTI CORP - PETE'S MANAGEMENT TEAM IS EXPECTED TO
REMAIN
IN PLACE AS COMPANY BECOMES A WHOLLY OWNED SUBSIDIARY OF LOCAL
BOUNTI

Source text for Eikon:  ID:nPn1w79RXa 
Further company coverage:  LOCL.N 

 ((Reuters.Briefs@thomsonreuters.com;))

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