Vancouver’s Sustainable Produce Urban Delivery (SPUD) is doing a reverse takeover of TSXV-traded Rainy Hollow Ventures in a going public transaction and will change its name to Freshlocal Solutions.
Upon completion of the arrangement, the combined entity will carry on the current business of SPUD and trade on the Toronto Stock Exchange (TSX).
“The name Freshlocal Solutions embodies our corporate mission of using innovation and technology to reduce environmental impacts while creating a safe and sustainable food ecosystem for all,” commented Freshlocal CEO Peter van Stolk.
“We are excited to be nearing the final stages of our Arrangement and to continue to bring our grocery and eGrocery innovations to both new and existing customers in the global grocery marketplace.”
SPUD operates two primary businesses, FoodX and eGrocery, both of which support its corporate mission to leverage innovation and technology to create a sustainable and profitable food system for all.
FoodX Technologies is SPUD’s scalable end-to-end SaaS-based eGrocery Management Solution (eGMS) which is designed to meet the needs of large and small grocery retailers while providing profitable unit economics. The FoodX eGMS is the culmination of 20 years of experience in online grocery and the company’s proven track record of delivering efficiently, sustainably and profitably.
SPUD’s consumer eGrocery business has expanded into one of Canada’s largest online grocery companies, with a focus on delivering fresh, local, organic produce and groceries, along with exceptional customer experiences. SPUD serves the main urban markets in British Columbia and Alberta through its brick and mortar store locations operating under the Be Fresh and Blush Lane banners, as well as through SPUD.ca which is SPUD’s award-winning online eGrocery platform.