Yesterday, Smokefree Innotec (OTCMKTS:SFIO) announced that it managed to complete the acquisition of Agrokings Inc and that resulted in a strong rally in the stock yesterday.
The Smokefree stock managed to record gains of as much as 4% yesterday and it is likely to come into considerable focus today as well. The completion of that transaction was only made possible after the Caveat Emptor status was removed from the stock and it got Pink Current status this past May. Now that the transaction is completed, Smokefree now has complete control over Agrokings and at this point in time, it is working towards changing the name of the company.
In this situation, it might be a good move for investors to perhaps take a closer look at what exactly Smokefree acquired. Agrokings is a company that is incorporated in Delaware and at this point, it controls as many as six subsidiary companies which are based out of New Zealand.
All those companies currently have a considerable presence in both Australia and New Zealand. The six companies include AG Architects, Epiphany Cafe Franchise Group, Gorgeous Coffee Co, A+ Electrical, Ardent Bakers and Accord Investment Group. Many of those subsidiaries will chime well with the lines of businesses that belong to Smokefree.