Texas-based UMED Holdings Inc. has completed its acquisition of the last 20 percent of Mamaki of Hawaii Inc., a Ka’u-based producer of Mamaki herbal tea and extract on Hawaii island.
The initial purchase deal was announced in October.
UMED is a diversified holding company that owns and operates businesses in various industries including energy, oil, gas, mining, aerospace, software, food and beverage.
The purchase “further demonstrates our ability to execute on our strategy of investing in high growth potential companies with solid assets and capable management,” said Kevin Bentley, UMED CEO, in a statement.
The objective of Mamaki of Hawaii “is to become a long-term, profitable, and environmentally responsible Mamaki producer not only for the benefit of Mamaki consumers but also UMED shareholders,” said Terry Braudrick, Mamaki of Hawaii vice president of development.