Acquisition Funded by Bonne Santé's Bridge Financing to its Anticipated Reg A+ IPO; Millenium Being Positioned for Bonne Santé's Global CBD Initiative
Press Release - updated: Mar 13, 2018 18:22 EDT
MIAMI, March 13, 2018 - Bonne Santé Group, Inc., an early stage global nutraceutical company, announced today that it has completed the acquisition of Florida-based Millenium Natural Manufacturing Corp, a state-of-the-art FDA-approved nutraceutical manufacturing facility. The acquisition was funded by Bonne Santé Group’s previously announced capital raise in the form of a bridge to its anticipated Reg A+ IPO. The announcement was made by William W. Nicholson, Executive Chairman of Bonne Santé Group.
“We are pleased to announce this milestone transaction for Bonne Santé Group, which represents our platform manufacturing facility in the nutraceutical space,” stated Mr. Nicholson. “As our first acquisition, this marks the initial leap forward in our mission to create a world-class nutraceutical company through our highly targeted buy-and-build strategy. We believe Millenium’s FDA-approved facility and their staff of highly experienced professionals will be a major addition to our team as we expand their offerings with our emphasis on industrial hemp-derived Cannabidiol (CBD) products. In addition, their location in Florida represents a prime location for both expanding US operations, in addition to export opportunities as we continue to expand.”
Millenium operates from a 22,000 square-foot state-of-the-art facility in Doral, Florida, manufacturing a wide variety of nutraceutical products such as vitamins, sports nutrition, and other health supplements. Millenium has evolved into a comprehensive nutraceutical contract and private label manufacturing company. Millenium, founded in 1998, established its success on sound business relationships with hundreds of clients from the United States, South and Central America, and Europe. This has led to Millenium being recognized by the United States Department of Commerce, U.S. Commercial Service, with the Export Achievement Certificate for accomplishments in the global marketplace. Millenium was recently nominated for the Top 100 Minority Business award by the Greater Miami Chamber of Commerce.
We are pleased to announce this milestone transaction for Bonne Santé Group, which represents our platform manufacturing facility in the nutraceutical space.
William W. Nicholson
"We believe this acquisition is a threshold event for Bonne Santé Group and our investors,” said A.J. Cervantes, Executive Vice-Chairman of Bonne Santé Group. “We are pleased that Millenium’s founder and President, Ada L deQuesada, will stay onboard while our collective team focuses on driving new business and continuing to execute our M&A strategy. Our bridge financing contributed the funds to close this acquisition, and with additional interest, we anticipate further closings on a rolling basis to support Bonne Santé’s organic growth and accretive acquisition strategy.”
“We are excited about Millenium’s next chapter and partnering with the Bonne Santé management team with its commitment to accelerate growth in addition to the development of Bonne Santé proprietary products,” stated Ms. deQuesada. “Under Bill Nicholson’s leadership, we intend for Millenium to become a dominant force in the global nutraceutical market.”
With its first closing complete, Bonne Santé Group’s previously announced capital raise is remaining open for additional subscriptions. The raise consists of 12 percent senior secured notes, with a 100 percent equity consideration upon completion of the Company’s anticipated IPO, in addition to the full repayment of the notes in cash. The notes are collateralized with a first priority UCC-1 filing of all assets of the acquisition, including the approximate $1.1 million resale value of existing equipment and machinery. The notes are being offered solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended. Oberon Securities, LLC, a New York-based investment bank, acted as Financial Advisor to the transaction.
Under Rule 506(c), general solicitation of offerings is permitted, however, purchasers in a Rule 506(c) offering must be "accredited investors." This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. Additional details of the offering are included in the Note Purchase Agreement.
For more information about the offering and complete investor materials, please contact: [email protected].
About Bonne Santé Group, Inc.
Bonne Santé Group, Inc. is an early stage Delaware corporation incorporated on Feb. 8, 2017. Structured as a holding company, BSG intends to execute a buy and build strategy with serial accretive acquisitions. BSG intends to engage in the acquisition, operation and sale of a broad spectrum of nutraceutical and related products. To drive growth and earnings, the Company will develop proprietary products as well as acquire other brands. The Company is positioning itself as a dominant force in the burgeoning industrial hemp-derived CBD sector, which is seeing significant consumer demand. The management team and the board of directors of Bonne Santé have an objective of creating a major international nutraceutical and related products company targeting a minimum of $250 to $500 million in revenues within the first three years following the initial acquisition, manufacturing and marketing a wide range of world-class nutraceutical products and next-generation delivery technologies.
Certain matters discussed within this press release are forward-looking statements. Although Bonne Santé Group believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Bonne Santé Group does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Bonne Santé Group will successfully acquire its acquisition targets. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks.
Executive Vice Chairman
Bonne Santé Group, Inc.
990 Biscayne Blvd., Suite 1002
Source: Bonne Santé Group, Inc.
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