Tattooed Chef Shares Surge 14% on Announced Retail Product Distribution Expansion
2022.08.24 01:59
Tattooed Chef Shares Surge 14% on Announced Retail Product Distribution Expansion
Tattooed Chef (TTCF) shares soared 14% after-hours following the company’s announcement today, according which it will expand its distribution agreement with Walmart. Under the agreement, the company will increase the availability of Tattooed Chef branded products at Walmart stores across the United States.
The company also announced the signing and simultaneous closing of an asset purchase agreement with Desert Premium Group, according to which the company acquired certain assets from Desert Premium Group for approximately $10 million, and the signing of a new lease agreement for an 80,000 square foot manufacturing facility located in Albuquerque, New Mexico at which the assets acquired currently operate.
By Davit Kirakosyan
