This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Terra Tech Corp.: Discusses Merger & Acquisition Strategy, Corporate Objectives And Future Outlook.

Stocks in this article: TRTC

Terra Tech Corp. (OTCBB: TRTC), a leader in sustainable agricultural products, releases shareholder update of their corporate objectives and details on their current M&A opportunities.

Terra Tech recently announced signing LOI’s to acquire two companies, GroRite Garden Centers and NB plants/ Edible Garden brand. Upon a successful merger these two acquisitions will push annual revenue for Terra Tech to over $10 million. Terra Tech has stated in the past that an aggressive M&A strategy is instrumental in accelerating growth for the company.

The company is currently working towards definitive documents to close the transaction and determined it was important to make investors aware of the progress and details. The Vande Vrede family, who has a rich history in Dutch farming techniques, owns both GroRite and NB Plants. Terra Tech has begun due diligence and can report that each company is both net income and cash flow positive.

Company CEO Derek Peterson stated, “Dealing with one family to close two large transactions for Terra Tech has made negotiations very easy. This is a significant step for our company as Terra Tech continues to mature. Our focus is to integrate companies that have positive earnings and that are symbiotic to our core business.”

The company is focused on closing these transactions quickly and launching their expansion plans for both entities. NB Plants is currently expanding their footprint into major retailers throughout the US by focusing on strategic relationships in Florida, a $1.7 billion market as well as the Midwest. In addition they intend on increasing the penetration they currently have with Shoprite, Food Emporium and the other 12,000 major grocery chains in the North East market. GroRite is currently looking at other locations throughout the US to expand its retail footprint.

Terra Tech recently placed a deposit on 5 acres of greenhouse structure to be erected at NB Plants in New Jersey. As phase one, NB Plants plans to construct 1.5 acres immediately to fulfill the demand of a new contract for close to $1 Million in additional product sales. The construction of the additional 3.5 acres is planned over the following 24 months. Each acre of greenhouse has the ability to produce close to $2 million of produce annually.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs