Vending

Hempacco expands market reach with asset acquisition

Photo: Adobe Stock

July 24, 2024

Hempacco Co. Inc. has acquired certain assets from Simtech LLC. The deal includes the acquisition of over 100 vending machines and 77 sales booths, which will be integrated into Hempacco's subsidiary, Hempbox Vending Inc., and rebranded as "Celebrity Vending." The new venture will focus on selling Hempacco's celebrity-branded products.

"This agreement marks a significant step towards expanding our market presence and diversifying our product offerings," Sandro Piancone, CEO of Hempacco, said in the release.

The acquisition is expected to bolster Hempacco's position in the functional product market.