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Cannabis Firm Flora Growth Acquires JustCBD Wellness Brand For $16M Shares



#Marijuana #cultivator and product manufacturer Flora Growth acquired CBD brand #JustCBD for $16 #million plus 9.5 million privately issued shares. The share compensation is subject to adjustment under certain circumstances, according to a regulatory filing.


JustCBD’s brand portfolio includes #CBD- #infused consumer packaged goods products such as #gummies, #tinctures, and #topicals. The company operates a manufacturing facility and #distribution center in #Florida. Its direct-to-consumer business has more than 300,000 customers and revenue of $28 million in its #2020 fiscal year.


“With the support of Flora’s strong #balance sheet, we believe JustCBD is now positioned to expand into #international markets where CBD products are permissible, including #Germany, #Mexico, and #Colombia,”. Flora said the acquisition creates the potential for synergies with its existing brands, which include #skin #care, #food, and #beverage products.



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