Pelemix Announces Acquisition of Even-Ari Green Ltd.

TEL-AVIV, Israel, March 14, 2023 /PRNewswire/ -- Pelemix Ltd. announced today that it has acquired Israeli-based growing media manufacturer Even-Ari Green Ltd. (EAG).

The deal will see EAG's employees joining Pelemix's growing global team. Danny Levinson, founder and CEO of EAG, will be remaining with the new company as CEO of the EAG division, reporting to Pelemix global CEO, Tal Brod.

"The acquisition of Even-Ari Green is important for Pelemix as it helps us deepen our footprint in the Israeli market," notes Brod. "It provides us an opportunity to expand on our ability to serve a variety of customers in both the hobby and professional grower segments. EAG's experience in the hobby and professional horticulture nursery market is a significant strength to add to Pelemix's already strong brand."

EAG is a growing media market leader both in terms of quality and its manufacturing technology. Pelemix's coir substrates are used worldwide as a growing media for hydroponic crops, plant propagation, fruit and vegetable production, cannabis cultivation, potted plant and bedding plant production and focused primarily on the professional grower's market.

"We're excited for the opportunities that this merger will represent for both brands," stated Levinson. "The opportunity to expand EAG in Israel, using Pelemix's advanced technical knowledge, provides great potential for both brands in the years to come."

About Pelemix

Pelemix is a global leader in the coir peat substrate market for hydroponic growers and nurseries. Founded in 1999, the company employs more than 500 staff in 11 locations around the globe.

Derek Fee, 602-1 Yorkdale Road, Toronto ON M6A 3A1, 416-780-5898, Email: derek.fee@iko.com