The company said the acquisition would accelerate its compliance with good manufacturing practices, grow its capabilities and streamline the manufacturing process to be more sustainable.
Cure Pharmaceuticals will pay $20 million in cash and stock upfront, with an additional $4 million in working capital that will focus on fueling growth.
The combination will add Tech-Holdings’ The Gold Q and AntiDos brands to Vertical Wellness' portfolio and enable it to offer proprietary products to its partners, the companies said.
The acquisition will create a private label division within the company, which makes CBD- and hemp-infused ready-to-drink beverages and personal care products under various brands.
TAAT is acquiring Redwood, which makes a leading brand of hemp cigarette sold at more than 1,600 retail locations nationwide, to bolster its capabilities and distribution contacts ahead of the launch of its Beyond Tobacco hemp cigarettes.
Perrigo and Kazmira's partnership includes an investment in Kazmira's manufacturing capabilities and a supply agreement that ultimately will bring store-brand CBD products to U.S. retailers.
Aurora Cannabis is promoting one of its own to the role of chief commercial officer. The Edmonton, Alberta-based company named Miguel Martin, president of Aurora USA and head of CBD brand Reliva, to the role effective immediately.
Entoura said it plans to use Atalo’s existing brands and product to grow its product offerings and offer private label services, including industrial hemp genetics, flower and hemp oil extraction.
With the approval, the companies expect the deal — for which Charlotte’s Web is paying a total equity consideration of $99 million in stock to Abacus shareholders — to close on or about June 11.
Puration has entered into a letter of intent to acquire a business producing a CBD-infused sun care product, potentially positioning the company to enter the market, which Statista pegs at $8.5 billion.
