USA: Monterey Pasta announces completed asset acquisition of Nate's Polenta
Monterey Pasta Company (Nasdaq: PSTA) yesterday announced the purchase of the Nate's polenta business from Elena's Food Specialties, Inc., of South San Francisco, Calif. for a consideration of $450,000 in cash, plus inventory with a value of $13,000. Additionally, Elena's shareholders could receive an earn-out based upon future sales above a predetermined level. The earn-out will be calculated during the first year of combined operations.
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