FORT LAUDERDALE, FLA. —  Golden Grail Beverages Corp., a beverage manufacturer founded in 1985 that develops and invests in beverage brands, has agreed to acquire United Product Development Corp. (UPDC Beverages), a beverage co-packer. Financial terms of the acquisition were not disclosed. UPDC Beverages will become a wholly owned subsidiary of Golden Grail Beverages Corp.  

“The company has made its initial acquisition under our new management team as part of our recently announced new business focus,” said Scott Lomu, chief executive officer of Golden Grail Beverages. “As part of this new strategy, we have entered into a share exchange agreement to acquire UPDC Beverages. Upon execution of the agreement, the company now owns 100% of the ownership equity, which will make UPDC Beverages a wholly owned subsidiary. As part of this agreement, the company is issuing 20 million shares of common stock to the former owners of UPDC Beverages. We believe this acquisition represents a significant initial transaction for the company, as it aligns perfectly with our straightforward acquisition criteria: seasoned operations, positive cash flow, and a presence in a high-growth industry.”

UPDC Beverages, which operates under the umbrella of UPD Holding Corp., is a full-service, co-packing partner for commercial entities offering a variety of services for beverages and functional beverages.

UPDC operates a facility in Naples, Fla., and offers co-packing services for a range of beverage products, including bottling, canning and filling energy beverages, carbonated beverages, functional beverages and liquid fills from shots up to 30-oz.