Shares of Active Health Foods Inc. (OTC: AHFD)
, maker of Active X Energy Bars, have risen sharply today after the company’s Board of Directors approved resolutions to seek consent from a majority of shareholders to acquire Manos Beverages Inc.
AHFD shares rose to an intra-day high of $0.02, and at last check, the stock was trading 80% higher at $0.0198 on above average volume of 7.66 million.
Manos Beverages, which is a privately held beverage wholesaler based in Riverside, California, has significant experience in the food and beverage industry. Manos Beverages produces All Natural Flavors, a beverage product specifically created with the focus on Health and Wellness and a healthy lifestyle.
Since inception, Manos Beverages has reported sales of approximately $25 million. It has also entered into national sales and marketing agreement with F&M Merchant Group LLC.
Greg Manos, President and CEO of Active Health Foods and Manos Beverages, said that by combining with Manos Beverages, AHFD will be in a very powerful position. Manos believes that the acquisition will have a very positive impact on sales and shareholder value and AHFD expects a smooth approval process.
Manos further said that he is thrilled and energized at the thought of all the experience that F&M brings to the table. He said that F&M has historically demonstrated a unique ability to drive explosive growth for the companies it has represented in the past from Fortune 500 companies to small startup brands that have become national branding success stories.