Briefs, Canada, CBD, Companies, News, North America, Transactions, USA

$20 million for CBD retail platform

Share this:
  • 5
  •  
  •  
  •  
  •  

Canadian cannabis company High Tide Inc. said it will acquire 80% of Fab Nutrition LLC, Wisconsin, USA for $20 million. High Tide, Calgary, Alberta, is to pay $12.56 million in cash and $8.08 million in shares for the Milwaukee-based online retailer, the companies said in a press release. Fab Nutrition, which sells CBD oils, creams, gummies and dog treats under the trade name FabCBD, had revenues of $10.8 million last year, fulfilling roughly 124,000 orders. High Tide said it has a three-year option to acquire the remaining 20% of Fab Nutrition LLC at any time. High Tide, a penny stock traded on the Canadian TSX Venture Exchange, said it has plans to enter the EU market with FabCBD products through existing distribution infrastructure based in Amsterdam.

Get Hemp Industry Updates

* indicates required