ZA Group, a company specializing in emerging industries acquisitions emphasizing direct-to-consumer apparel and manufacturing of self-sustainable farms, announced significant new developments following the recent announcement of the 60% acquisition of E-Roots Manufacturing Inc by ZA Group. An exclusive license agreement has been finalized for the countries of Australia and New Zealand, and a number of orders are about to be issued to E-Roots Manufacturing for the supply of vertical farming modules to those countries. This follows several months of information exchange and discussions with the investment partnership group headquartered in Australia and whose principal partners have ownership of The Banyan Tree Group—one of the world's leading independent, multi-branded hospitality groups, respected for their purpose-driven approach centered on well-being and sustainability. Michael Lee, a professional hotelier and main spokesperson for the group, reported that they are attracted to the advanced vertical farming concepts that have been developed and refined by E-Roots Manufacturing.
Following the signing of the documents, Mr. Lee commented, "We are excited about bringing the E-Roots vertical farming modules into our countries, and our commitment includes the financing to underwrite all the facilities. In-house business plan preparation is well underway, and we anticipate issuing purchase orders soon for the manufacture, delivery, and installation of the first of many E-Roots modules."
In responding to this announcement, E-Roots Manufacturing has stated that "Over the past 12 months, our brand and its success have become recognized all over the world. When we were approached by our new partners in Australia, we knew of their success with innovative businesses, and our ensuing discussions have reinforced our excited optimism. We anticipate many new opportunities with our partners in Australia/New Zealand, and our ZAAG shareholders can expect to see similar announcements soon about new partnerships in other countries."
John Morgan, ZAAG CEO, responded as follows to this latest announcement—"Local food security has quickly become a worldwide phenomenon. Our recently announced acquisition of E-Roots Manufacturing followed our own due diligence review of the company and its in-house vertical farming technology and our belief that we had a winning team. Today's announcement demonstrates the massive worldwide potential of a timely business model and its technology."
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