We expect the acquisition to have more value than it appears at first glance. I echo Kelly's sentiment on the Sprout's organic foods transaction and the relationship with Morgan Stanley. Thank you, Toni, and Kelly, and good morning, everyone. Michael Cammarata - President and Chief Executive Officer I will now turn the call over to our chief executive officer and president, Michael Cammarata, to discuss the company's strategic initiatives. Additionally, Neptune has a full pipeline of future M&A opportunities before us, and we will continue to expand our brand presence in North America and internationally. Sprout could not be better positioned for success as part of Neptune's growing brand portfolio. With this transaction, Morgan Stanley is now a significant shareholder of Neptune, and Lincoln Isetta from Morgan Stanley has joined the Sprout Board of Directors. Prior to Neptune's acquisition of the majority of Sprout's outstanding shares, Morgan Stanley was Sprout's largest shareholder. Our acquisition of Sprout also begins a new important relationship for Neptune with Morgan Stanley. We are very excited to have Sprouts in our portfolio, and we look forward to sharing more of our plans for the company as we move forward. On the cost side, we expect to be able to provide benefits from our manufacturing capabilities, as well as through our combined retail relationships. We also see opportunities for product expansion within Neptune's portfolio, for example, in our nutraceuticals business. and internationally, can provide early additional distribution points for existing Sprout products. On the revenue side, we believe that our distribution network, both in the U.S. We see significant revenue and cost synergies with this acquisition. With roughly $28 million in annual net revenues, Sprout already has a foothold in the organic baby food market. Sprout's three brands: Sprout, Nosh, and NurturMe are disrupting the baby food market, which has historically been dominated by processed foods. Sprout is a great fit for Neptune as the products, people, and corporate philosophy fit perfectly within the transformation we are undergoing. Last week, we announced our acquisition of Sprout Foods, a three-brand portfolio of organic, plant-based baby food and toddler snacks. I'd like to take this opportunity to discuss our recent acquisition of Sprout brands and Morgan Stanley's relationship in more detail. I'm thrilled to be joining the Neptune Wellness team as its general counsel. Kelly will follow with a review of our recent acquisition of Sprout, and Michael will follow with an update on our strategic path. Toni will begin the call by providing an operating update and a review of our third-quarter financials.
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