Nutroganics, Inc., Bethesda, Md., signed a letter of intent to acquire certain assets of Wholesoy & Co., San Francisco.
Wholesoy is an organic, non-GMO-verified, soy yogurt processor that distributes nationwide to leading natural foods retailers such as Whole Foods and specialty grocers such as Fairway Market. Wholesoy generates approximately $7 million in annual revenue. Nutroganics anticipates that the acquisition would be accretive immediately on a revenue-per-share basis, and after a 120-day transition, would be accretive on an EBITDA per share basis.