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AMASS Brands to Acquire Majority Stake in HpO Sparkling Protein Water Brand

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AMASS Brands (AMSS) said Monday it plans to acquire a controlling interest in sparkling protein water brand HpO.

AMASS said it currently owns about 15% of HpO and will acquire the additional stake through a stock transaction.

The company said it will also receive a three-year option to acquire the remaining interest in HpO at a price equal to two times revenue.

HpO offers sparkling protein water containing 5 grams of plant-based protein per can with no sugar and low calories, the company said.

Shares of AMASS Brands were over 15% higher in Monday trading.

Price: $2.36, Change: $+0.32, Percent Change: +15.69%

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