With the purchase, the team from DirectCBDOnline.com would be joining cbdMD, with co-founders John Wiesehan III and Brad Trawick set to play key roles as the company expands further.
Valens is paying $40 million in cash and stock upfront for Green Roads, with an additional $20 million milestone payment available once the business achieves certain financial milestones.
Kadenwood said acquiring Social CBD will create the largest retail CBD distribution network in the country, including major drug and grocery chains, with products in roughly 18,000 retail stores.
The company’s acquisitions of Apothecanna and Sagely Naturals expands its distribution footprint to more than 15,000 stores, brings in new capabilities and adds established talent to its roster.
The combined company has a market cap of $8.2 billion based on closing stock prices from April 30, and Tilray expects the merger to create $81 million in synergies within 18 months.
Aphria noted that it has received the requisite regulatory approvals to complete the transaction and is urging shareholders to vote in favor of the merger.
Powerful Brands will encompass Powerful Nutrition’s eponymous sports nutrition and supplement offerings, as well as MMG’s two mass-market CBD brands Karibo Beauty and mintedLeaf.
