Functional Brands Inc.: Functional Brands Enters into Agreement to Acquire Alchemy, a Gold-Backed Blockchain Settlement Platform, in a $142.9 Million Transaction

Functional Brands Inc. (NASDAQ: MEHA) announced the execution of a definitive agreement to acquire the assets of BullionFX, specifically its Alchemy technology platform. This vertically integrated, gold-backed blockchain settlement layer and decentralized finance (DeFi) ecosystem targets retail, institutional, and blockchain markets. The transaction is valued at $142.9 million in an all-stock asset acquisition and has been unanimously approved by the boards of directors of both companies. Management views the platform as differentiated from existing tokenized-gold products by the depth and integration of its technology stack. "Gold is having a generational moment, and we expect the acquisition of the Alchemy technology suite will give us the infrastructure to be at the center of it," said Eric Gripentrog, CEO of Functional Brands. The acquisition aims to capitalize on the market opportunity presented by gold reaching all-time highs in 2025, driven by central-bank purchasing and geopolitical tension. Alchemy's decentralized ecosystem is built on the stability of gold, providing stable backing to various products, including USD deposits. The platform is designed to disrupt three core markets: Retail, Institutional, and Blockchain. For Retail, Alchemy delivers a decentralized platform built around USD and gold, combining stability with the practical functionality required for payments, yield, DeFi, and broader ecosystem use. For Institutional, the platform bridges traditional and decentralized financial products, offering market-leading yield engines that generate above-market returns on USD and gold. For Blockchain, Alchemy changes the substrate by providing a Layer 2 secured by Ethereum and denominated in gold, giving developers a stable foundation for the next generation of financial and non-financial applications. Functional Brands believes that as a Nasdaq-listed operating company with established public-market disclosure and governance infrastructure, it is well-positioned to serve as a consolidation vehicle in the tokenized real-world-asset and gold-anchored DeFi segments. The Company's wellness portfolio includes Kirkman, one of the most trusted names in nutritional supplements for over 75 years, and Tru2u.health, a consumer-facing telehealth and wellness platform. The transaction is subject to conditions including due diligence, regulatory approvals, and a valuation. Following the binding LOI dated May 11, 2026, both parties executed the definitive agreements on May 22, 2026. The Company cautions that forward-looking statements are not guarantees of future performance and actual results may differ materially due to various factors.

(Source：Finanznachrichten.de)