AMASS Brands Group (NASDAQ:AMSS) said Monday it plans to acquire a majority stake in sparkling protein water brand HpO, expanding its presence in the fast-growing functional hydration market as consumer demand for high-protein beverages continues to rise.
The proposed transaction would increase AMASS’s ownership in HpO from about 15% to approximately 50.0001% on a fully diluted basis.
Additionally, the company also secured a three-year option to acquire the remaining interest at a purchase price equal to two times revenue. Financial terms beyond the stock-based consideration were not disclosed.
Deal Targets Fast-Growing Protein Beverage Market
HpO produces sparkling protein water containing 5 grams of plant-based protein per can, with zero sugar, no artificial sweeteners and about 22 to 30 calories per serving.
