Quarterly report [Sections 13 or 15(d)]

Acquisitions

v3.25.1
Acquisitions
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Grab Green acquisition
On February 10, 2025, the Company acquired substantially all the assets and certain liabilities of MaddieBrit Products, LLC (“Grab Green”), a company engaged in providing eco-friendly cleaning products. The transaction has been accounted for as a business combination. Consideration paid by the Company was solely of cash.
The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Amount
Cash paid $ 2,212 
Accounts receivable 785 
Inventory 1,279 
Customer relationships 441 
Trademarks 304 
Accounts payable (597)
Total net assets acquired 2,212 
8Greens acquisition
On March 10, 2025, the Company acquired substantially all assets and certain liabilities of Tasty Greens, LLC (“8Greens”), a company engaged in providing healthy, nutrient-rich effervescent tablets and gummies. The transaction has been accounted for as a business combination. Consideration paid by the Company was solely of cash.
The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Amount
Cash paid $ 636 
Accounts receivable 608 
Inventory 742 
Trademarks 537 
Customer relationships 696 
Contingent liabilities (133)
Accounts payable (1,814)
Total net assets acquired $ 636 
Acquisition-related transaction costs for the acquisition of Grab Green and 8Greens, consisting primarily of third-party professional fees, were $0.6 million in the aggregate and were expensed as incurred within selling, general and administrative expenses in the Company’s condensed consolidated statements of operations.
Intangible assets acquired will be amortized over periods ranging between 1 and 5 years. Accounts receivable acquired in each transaction consists of amounts due to Grab Green or 8 Greens from their customers. Accounts payable acquired relates to amounts due to vendors for inventory or operating expenses.
Pro forma financial information related to these acquisitions has not been presented as the effects of the acquisitions described above were not material to the Company’s condensed consolidated financial results. Revenue and net loss attributable to Grab Green and 8Greens have been included in the Company's condensed consolidated statement of operations since the date of each transaction and were not material for the period presented.