Flora Growth Completes Acquisition of Category Leading Wellness Brand JustCBD; Enhances U.S. Infrastructure and CPG Portfolio JustCBD is an established CPG brand with a portfolio of over 300 products and a seamless omnichannel approach that includes a direct-to-consumer business with over 300,000 customers and a network of over 14,000 stores across the United States and internationally. JustCBD generated audited revenues of US$28 million and EBITDA of US$7 million in fiscal year 2020 across multiple categories, including gummies, tinctures, vape cartridges, creams, pet wellness, among others, all of which we believe to have meaningful long-term growth potential. The acquisition should enhance Flora’s infrastructure in the United States with JustCBD’s widespread distribution across mainstream U.S. channels and its production facility in Fort Lauderdale, Florida.
Published Ncv Newswire, New Cannabis Ventures, 02/28/2022 08:35:00