Alpine 4 Holdings (OTCMKTS:ALPP) is well known for owning and operating a wide range of small market businesses and on Monday, the company made a major announcement.
The company announced that its subsidiary company A4 Manufacturing Inc has completed the acquisition of Alternative Labs LLC. It is a significant acquisition for Alpine 4 since by way of this acquisition the company is going to enter the global nutraceutical and CBD industry.
In addition to the nutraceutical space, Alternative Labs is also involved in manufacturing private label CBD products on contracts. It is based out of Southwest Florida. Some of the products in which the company specializes include capsules, tablets, liquids, and other forms of CBD items.
On the other hand, it has also become a major player in the global nutraceutical market over the course of the past decade. While the acquisition might prove to be a long-term winner for Alpine 4, investors did not seem to keen on the development. The stock actually declined by 7% yesterday.