Online vegan marketplace Vejii has entered into a share purchase agreement to acquire leading business-to-business wholesale platform VEDGEco.
VEDGEco is one of the first online wholesale platforms dedicated to plant-based products, enabling smaller businesses to access high-quality products without the large minimum order sizes required by many distributors.
Vejii will acquire 100% of the company’s shares for a total price of $6,250,000. VEDGEco’s team is expected to remain the same following the completion of the transaction.
The acquisition will allow Vejii to expand its distribution network to include VEDGEco’s existing facilities in Hawaii, Northern California, and Georgia, while also granting VEDGEco access to Vejii’s distribution centres.
Launch to IPO
A little over a year after Vejii officially launched in the US, it has already expanded to Canada and gone public on the Canadian Securities Exchange. The company has also signed an agreement with the US’s largest publicly traded grocery distributor, as well as launching Vejii Express to guarantee shipping in 48 hours.
“We heard consistently from the brands that we serve that they were seeking to make the leap from e-commerce, to grocery and foodservice distribution. This could mean shipping samples, managing broker relationships, or gaining access to those restaurants and grocers not served by the larger wholesalers,” said Kory Zelickson, CEO of Vejii. “We already work with our brand partners on a business-to-consumer strategy through our marketplace, but now we can also help our brand partners get access to distribution in local restaurants and grocers, expanding Vejii’s capabilities from just B2C to also include B2B and foodservice.”
