NetworkNewsBreaks – Flora Growth Corp. (NASDAQ:
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Posted On: 02/28/2022 2:29:04 PM
NetworkNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Strengthens Foothold in US Wellness Market with Acquisition of JustCBD
Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced that it has acquired 100% of the equity interests in each of Just Brands LLC and High Roller Private Label LLC for cash consideration of US$16.0 million and 9.5 million privately issued Flora common shares, subject to certain potential future adjustments. According to the update, Just Brands and High Roller are the owners of the JustCBD brand and associated operations (collectively “JustCBD”). “We are thrilled to announce this news today and welcome the JustCBD team to Flora. To build such a recognizable brand in this noisy, rapid-growth market is a testament to everyone at JustCBD,” said Luis Merchan, CEO of Flora. “This acquisition continues to strengthen Flora’s foothold in the U.S. wellness market as well as providing meaningful growth acceleration and delivering human capital to the Flora organization. Additionally, there is incredible opportunity to leverage our economically advantaged cultivation to support the expansion of the JustCBD brand in the global market.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced that it has acquired 100% of the equity interests in each of Just Brands LLC and High Roller Private Label LLC for cash consideration of US$16.0 million and 9.5 million privately issued Flora common shares, subject to certain potential future adjustments. According to the update, Just Brands and High Roller are the owners of the JustCBD brand and associated operations (collectively “JustCBD”). “We are thrilled to announce this news today and welcome the JustCBD team to Flora. To build such a recognizable brand in this noisy, rapid-growth market is a testament to everyone at JustCBD,” said Luis Merchan, CEO of Flora. “This acquisition continues to strengthen Flora’s foothold in the U.S. wellness market as well as providing meaningful growth acceleration and delivering human capital to the Flora organization. Additionally, there is incredible opportunity to leverage our economically advantaged cultivation to support the expansion of the JustCBD brand in the global market.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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