On June 12, 2017, Pacific Ventures Group, Inc. (the "Company"),entered into a material definitive agreement to acquire 100% member interest in Healthy Foods Markets LLC, a Carson, California based healthy food and grocery retailer. The information set forth in Item 2.01 below with respect to the Purchase Agreement, as amended, and the as defined in Item 2.01, is incorporated by reference into this Item 1.01.
Item 2.01.Completion of Acquisition or Disposition of Assets.
On June 13, 2017, Pacific Ventures Group, Inc. (the "Company"),
completed its acquisition of (the "Acquisition") of Healthy Foods Markets LLC (the "business") from undisclosed and unrelated third-party seller (the "Seller"), under its reported Purchase and Sale Agreement (the "Purchase Agreement") by and among the Seller and the Company, dated as of June 12, 2017. The aggregate consideration for
the Acquisition was certain amount of shares of the Company's common stock. The shares issued are subject to a four year lock up and leak out agreement.
The Company believes the acquisition of the business is a right step because it will serve as a fulfilment center for the Snobar products and create additional and immediate revenue and exposure for the company.
Item 9.01. Financial Statements and Exhibits.
Financial Statements of Business Acquired.
Information required by this Item 9.01(a) will be filed within the required 71 days from acquisition date.
Pro Forma Financial Statements.
Information required by this Item 9.01(b) will be filed within the required 71 days from acquisition date.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: June 15, 2017
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Other recent filings from the company include the following:
Other preliminary information statements - Nov. 13, 2018
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