Rising India Inc (OTCMKTS:RSII) is in advanced talks to acquire Fresh Green concept a locally owned and a culinary concept incubator company with the deal expected to close in the coming days. A company representative has said that the acquisition will enable Rising India to venture more into the culinary world with expectations of having an impact in the way consumers shop, eat and live their lives.
Focused on restaurant concepts as well as ventures in meals and entertainment, Rising India Inc (OTCMKTS:RSII) started on a basic idea of clean foods with the home-delivery system called ChefBox. The company soon branched to include X-fit targeting health wellness, as well as fitness centers. CEO, Jim DiPrima, affirms that the acquisition of Fresh Green concepts will go a long way in expanding their vision in the way fresh foods are sold as well as have an impact on the way customers consume them.
Plans to acquire Fresh Greens also come on the heels of Rising India Inc (OTCMKTS:RSII) announcing it had entered into negotiations for the acquisition of fully operational consortium of Organic, sustainable food brands. The acquisition according to the CEO is in line with the company’s goals of going forward with impactful acquisition that are expected to generate shareholder value going forward. Rising India has also confirmed that it has reached terms towards the issuance of LOI that will see the completion of the acquisition.
Rising India Inc (OTCMKTS:RSII) remains confident that the acquisition will be of help in the pursuance of market share in the fast-growing organic food and beverage industry. North America has already outpaced the European market as the largest market for organic food and beverage. Sales in this space have grown from $ 1 billion in 2005 to $7 billion as of 2013 according to the U.S Department of Agriculture.
Rising India Inc (OTCMKTS:RSII) is to detail the consortium of brands on the announcement of LOI, as well as the finalization of the deal.