Jeffs' Brands Agrees With Plantify Foods To Sell Smart Repair Pro For About $11.8M

The transaction includes the acquisition of Jeffs' Brands' wholly-owned subsidiary, Smart Repair Pro, and its approximately 49.1% ownership interest in SciSparc Nutraceutical Inc. by a Canadian public company in exchange for an up to 90% equity interest (on a fully diluted basis) in such company

Tel Aviv, Israel, April 30, 2025 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd ("Jeffs' Brands" or the "Company") (NASDAQ:JFBR, JFBRW))), a data-driven e-commerce company operating on the Amazon Marketplace, today announced that it has entered into a definitive agreement ("the Agreement") with Plantify Foods, Inc. (TSXV:PTFY)  a Canadian public company (the "Acquiror") to sell its wholly-owned subsidiary, Smart Repair Pro, which operates Jeffs' Brands' stores on the Amazon U.S. Marketplace and owns Pure NJ Logistics LLC, and its approximately 49.1% ownership interest in SciSparc Nutraceuticals Inc. ("SNI"), which is currently held by its wholly-owned subsidiary, Jeffs' Brands Holdings Inc.

In exchange, Jeffs' Brands is expected to receive up to a 90% equity interest in the Acquiror (on a fully diluted basis), calculated as of immediately following the closing and based on a valuation of CAD 17.125 million (approximately $11.8 million) for Smart Repair Pro and the minority interest in SNI, and a valuation of CAD 4.85 million (taking into account the full potential consideration and contingent on the Acquiror having cash holdings of at least CAD 300,000 (approximately USD $207,000) for the Acquiror (together, the "Transaction").