Jeffs' brands enters into a definitive agreement to sell key u.s. assets to a canadian public company for an approximate valuation of $11.8 million

The transaction includes the acquisition of jeffs' brands' wholly-owned subsidiary, smart repair pro, and its approximately 49.1% ownership interest in scisparc nutraceutical inc. by a canadian public company in exchange for an up to 90% equity interest (on a fully diluted basis) in such company tel aviv, israel, april 30, 2025 (globe newswire) -- jeffs' brands ltd (“jeffs' brands” or the “company”) (nasdaq: jfbr, jfbrw), a data-driven e-commerce company operating on the amazon marketplace, today announced that it has entered into a definitive agreement (“the agreement”) with plantify foods, inc. (tsxv: ptfy)  a canadian public company (the “acquiror”) to sell its wholly-owned subsidiary, smart repair pro, which operates jeffs' brands' stores on the amazon u.s. marketplace and owns pure nj logistics llc, and its approximately 49.1% ownership interest in scisparc nutraceuticals inc. (“sni”), which is currently held by its wholly-owned subsidiary, jeffs' brands holdings inc. in exchange, jeffs' brands is expected to receive up to a 90% equity interest in the acquiror (on a fully diluted basis), calculated as of immediately following the closing and based on a valuation of cad 17.125 million (approximately $11.8 million) for smart repair pro and the minority interest in sni, and a valuation of cad 4.85 million (taking into account the full potential consideration and contingent on the acquiror having cash holdings of at least cad 300,000 (approximately usd $207,000) for the acquiror (together, the “transaction”). following the completion of the transaction, the company's ownership interests in smart repair pro will be held by the acquiror and the company will only have a direct ownership interest in the acquiror.
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