News and Announcements

Canada conglomerate buys Natick CBD firm for $40M

Shared Content
Written by Shared Content

Under Massachusetts law, people 21 and over can purchase, possess and use up to 1 ounce of marijuana, possess 10 ounces securely stored at home and grow six cannabis plants.

Reliva, a CBD company based out of Natick, was acquired in May by Aurora Cannabis, an international conglomerate out of Canada, according to a press release announcing the merger.

Reliva was acquired for $40 million with the potential earn-out of up to $45 million, according to the announcement.

“The partnership between Aurora and Reliva is expected to create a market leading international cannabinoid platform that we believe can deliver robust revenue and profitable growth,” said Michael Singer, executive chairman and interim CEO of Aurora, in a statement.

Reliva’s CBD products, which are sourced from industrial hemp farms in Oregon,  are sold at more than 20,000 stores, according to the company’s website.

Original Article: https://www.wbjournal.com/article/canada-conglomerate-buys-natick-cbd-firm-for-40m

About the author

Shared Content

Shared Content

Leave a Comment