The high-speed production line has been converted to a hand sanitizer filling line due to the recent demand for hand sanitizer
Rocky Mountain High Brands, a healthy lifestyle Company specializing in high-quality health and wellness products, announced today it recently acquired a commercial bottling operation in Plano, Texas through its new wholly owned subsidiary, Rocky Mountain Productions.
The facility, previously owned by Raw Pharma, has a peak production capacity for:
Beverages of 12,000 cans per hour
High speed production line of 9,000 bottles per hour
Second high-speed line of 4,000 bottles per hour (offline at time of purchase; to be brought online as soon as possible)
The high-speed production line has been converted to a hand sanitizer filling line due to the recent demand for hand sanitizer. Additional production shifts have also been added to meet the demand.
Michael Welch, Chairman of the Board, said, “This acquisition gives us the opportunity to enter the highly lucrative hand sanitizer business at a time when it is in great demand. Owning our own bottling and canning facility allows us to maintain total control over product quality and development as well as ensuring favorable production scheduling for our HEMPd and private label beverages at significant cost advantages. We now have revenue producing assets which will allow us to drive our own success.”
Rocky Mountain Productions, Inc. made an upfront payment of $500,000 in RMHB shares of common stock, and will make monthly payments toward machine debt of $1.0 million, and a series of additional payments totaling up to $1,750,000, with payments beginning in May 2020 and ending no later than 2021, commensurate with the development of the revenue stream.
The acquisition was ratified by the Board of Directors on Monday May 4, 2020 and was announced publicly through a Form 8-K filing with the Securities and Exchange Commission on Friday, May 8, 2020.
Source: Company Press Release