Branded Legacy, Inc. Signs Letter of Intent to Acquire Kamino Propagation & Research, LLC
Orlando, FL -- April 6, 2022 -- InvestorsHub NewsWire -- Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages, along with an array of CBD topicals and tinctures completes a letter of intent to acquire Kamino Propagation & Research, LLC.
Branded Legacy, Inc. signed a letter of intent to acquire Kamino Propagation & Research, LLC on Wednesday of this week. Kamino Propagation & Research is located in Newberry, FL and owned by military veterans Maxwell Minch and Joel Reynolds,. The potentially acquired Kamino is in the business of growing, farming, harvesting and selling industrial hemp. The Company signs its second LOI in the last few weeks in effort to strengthen its ability to develop new and innovative products at lower costs in an extremely fluid industry.
Branded Legacy, Inc. toured Kamino’s farm a few weeks ago, and an acquisition opportunity was discussed to the long-term benefit of both companies. While at the farm, both companies discussed how a potential acquisition creates opportunity for Branded Legacy to own everything from seed to shelf, controlling the total process while reducing costs. This in turn would allow Kamino to focus on the growing, farming and harvesting of the industrial hemp while Branded Legacy has the salesforce and network to increase sales. Additionally, the plants grown by Kamino opens more opportunity for the development of new products not currently in the lineup.
Branded Legacy’s Vice President, Matthew Nichols, stated, “We are continuing our advancement to make 2022 a cornerstone year. The Company is positioning itself to have more production and development opportunities as these potential acquisitions are finalizes. Acquiring a company like Kamino opens so many opportunities for new product growth and Company growth.”
