Narayan Group Set to Be Acquired by Edible Garden Following Signing of Non-Binding Letter of Intent
Narayan Group, a Slovenia-based producer of organic coconut and superfood products, has announced a planned acquisition by Edible Garden AG Incorporated. The two companies have signed a non-binding letter of intent to enter into a share purchase agreement that would see Edible Garden — a leader in controlled environment agriculture (CEA) and locally grown, organic, and sustainable produce — acquire the outstanding share capital of Narayan Group and its subsidies. The shareholders of Narayan Group will then become the controlling shareholders of Edible Garden. Narayan Group achieved over $22 million in revenue in the first nine months of 2024 and expects fourth-quarter revenue in excess of $9.5 million. With the help of the company’s vertically integrated supply chain and leadership in the European market, along …