The assets purchased include one hatchery in New Brunswick, two farming licenses in New Brunswick, seven farming licenses in Newfoundland and one processing plant in Newfoundland.

The combined entity will bring together two well-known brands and expand sales opportunities for both farmer-owned dairy cooperatives.

The $2 million expansion will include a new headquarters to support the company’s U.S. operations, and is expected to add as many as 50 new jobs in production, management and administration.

Within the $3.4 trillion global wellness market, $1 trillion annually is spent on beauty and anti-aging, $574 billion is spent on healthy eating, nutrition and weight loss and $433 billion is spent on preventative and personalized health.

Expanding urban population base, growing consumer spending on lifestyle products and rising health consciousness continue to drive the global cold-pressed juice market.

A site search is underway to select a location capable of supporting the production of up to 3,000 truck bodies annually.

In addition to price considerations, the nutritional value of products is becoming increasingly important.

The expansion includes a new warehouse of dry storage space for labels, packaging and other materials as well as a state-of-the-art hatchery.