The Company Outlines Future Direction of Company
LAS VEGAS, NV / ACCESS Newswire / August 24, 2026 / Fast Moving Consumer Goods, Inc.(ticker:GGII), formerly Green Globe International, Inc.,("Company" or "FMCG"), today announced that it recently spun off its subsidiary, Hempacco, Inc., which was 49% owned by the Company at the time. Hempacco was engaged in the manufacturing and distribution of hemp-derived consumer products, including smokable hemp goods and related accessories. As a result, Hempacco's balance sheet and results of operations were deconsolidated from the Company's condensed consolidated financial statements as of June 30, 2026. The 49% of Hempacco was exchanged with that entity's majority owners in consideration for their assuming all Hempacco debts, obligations, and legal liabilities, amounting to over $10 million.
Commenting on the spin out, FMCG's CEO, Sandro Piancone commented, "As a management team, we determined that the liabilities of Hempacco far outweighed the benefit of continuing our further involvement. This spin out allowed us to shed almost all of the Company's debt and legal exposure, leaving us in a position to create increased shareholder value through substantial reductions in operating expenses and debt service."
Management further stated that the spin out enables the Company to focus its energy and resources to building the core business of providing custom formulation, supply-chain management, brand development, mentoring, mastermind programs, and related commercial support services to consumer-product clients.
About Fast Moving Consumer Goods, Inc.
FMCG is a Delaware corporation with a wholly owned subsidiary, Lucky To Be Beverage Co. ("LTBB"), a Nevada corporation. FMCG is a holding and consulting company that provides custom formulation, supply-chain management, brand development, mentoring, mastermind programs, and related commercial support services to consumer-product clients. LTBB is engaged in brand management, consumer-product manufacturing, distribution, and related commercial operations. Together, the Company operates a dual-model structure consisting of (i) consulting, formulation, incubation, and brand-development services conducted by FMCG, and (ii) consumer-product manufacturing and supply-chain operations conducted through LTBB. FMCG operates the nation's first fast moving consumer goods incubator and manages one of the largest communities of FMCG founders and CEOs with more than 45,000 LinkedIn members. www.fmcgstock.com
For more information, visit https://www.fmcgstock.com
Media Contact
Fast Moving Consumer Goods
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Website: www.fmcgstock.com
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SOURCE: Fast Moving Consumer Goods, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/fast-moving-consumer-goods-inc.-announces-spin-off-of-hempacco-s-1211145
