Nature’s Miracle to acquire Pangea

Nature’s Miracle (NMHI) has signed a non-binding letter of intent to acquire 100% of Pangea Global, a manufacturer of LED lighting and technology solutions provider. Nature’s Miracle would provide a total consideration of 3,500,000 shares. Additionally, Nature’s Miracle would agree to provide Pangea with $2.0M in working capital pursuant to this transaction. Based in California and with manufacturing facilities in Mexico, Pangea delivers technology solutions and high-performance, specification grade LED lighting through its three brands: Visionaire Lighting, RapidGrow LED Technologies and Pangea Software. Pangea reported audited revenues of $38.5M and adjusted EBITDA of $2M for 2023. Pangea is a vertically integrated operation that produces all of its products in-house. Pangea’s sales network makes use of 48 agencies with over 600 sales representatives throughout the U.S.