Universal completed the acquisition of Shank's Extracts.

Universal, an independent leaf tobacco merchant, completed the acquisition of Shank's Extracts, a privately-held, specialty ingredient, flavoring and food company with bottling and packaging capabilities. Financial terms were not disclosed. "This agreement with Shank's marks another important step forward in Universal's efforts to identify and execute on opportunities that broaden and enhance our plant-based ingredients platform. The Shank's acquisition fits squarely in our new platform and our capital allocation strategy, bolstering our offerings for customers and expanding our value-added services by adding flavors, custom packaging and bottling, and product development capabilities," George C. Freeman III, Universal Chairman, President and CEO.