US-based company M Line has acquired the issued share capital of Best Choice Nuts, Candy and Specialties for $500,000.

The agreement is expected to allow M Line to expand its beverage and food distribution capabilities.

Priced at $0.08 per share, half of the convertible preferred stock will be purchased for $250,000 over a period of 23 months.

M Line CEO Tony Anish said: “This key acquisition is part of our overall strategy of expansion in the Florida market.  It clearly enhances the growth capabilities of Best Choice Food and Beverage.

“We are looking at many additional opportunities for greater expansion in the Florida marketplace.”

“Furthermore, we are looking at many additional opportunities for greater expansion in the Florida marketplace.

“The enlarged Best Choice group plans to become the preferred beverage distributor for many beverage brands that have been unable to bring their product to the State of Florida due to distribution issues and costs.”

Larry Skara has owned and operated Best Choice and worked with M Line’s subsidiary Best Choice Food and Beverage president Russ Rickon.

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As a part of the acquisition, M Line will also acquire another 20% of Best Choice Food and Beverage from Larry Skara for stock priced at $0.008 in the form of a convertible preferred stock.

The deal is expected to combine the operation of M Line and Best Choice to create a larger footprint of products to market to a wider cross-section of customers.

Rickon said: “The acquisition of Best Choice Nuts, Candy and Specialties, not only brings Larry Skara, another highly skilled and experienced member to our team but also enables us to fully service the lower two-thirds of the State of Florida and speed up our growth.”