Functional Brands Acquires Alchemy for $142.9 Million

Lake Oswego, OR - Functional Brands Inc. (NASDAQ: MEHA) has announced the execution of a definitive agreement to acquire assets from BullionFX, including its Alchemy technology platform, in an all-stock transaction valued at $142.9 million. The deal has received unanimous approval from the boards of directors of both companies.

The acquisition aims to integrate a gold-backed blockchain settlement layer and decentralized finance (DeFi) ecosystem into Functional Brands' existing business portfolio. This strategic move is designed to provide institutional and retail users with a platform that generates yields on physical gold positions, a feature management highlights as a significant advantage over traditional gold exchange-traded funds.

Transaction Details

• Transaction Value: $142.9 million in an all-stock asset acquisition.
• Platform Capability: A vertically integrated, gold-backed DeFi ecosystem for retail, institutional, and blockchain markets.
• Strategic Goal: To bridge traditional and decentralized financial products, offering stablecoin-like utility with physical gold backing.

Management emphasized that this acquisition positions Functional Brands to become a consolidation vehicle in the tokenized real-world-asset sector. The company plans to utilize its publicly listed status to further commercialize this technology and expand its market reach into both traditional finance and blockchain ecosystems.