- Simply Better Brands (SBBC) has signed a non-binding term sheet to acquire CFH Limited
- CFH is a seed-to-shelf CBD manufacturer with both a branded and white-label portfolio
- The company would acquire CFH for US$14,320,000 payable in SBBC common shares
- The acquisition would contribute to expanded vertical integration, research-driven innovation and cost synergies for Simply Better’s PureKana brand
- Simply Better Brands operates an international omni-channel platform offering plant-based and holistic wellness consumer products
- Simply Better Brands (SBBC) is unchanged trading at $3.50 per share
Simply Better Brands (SBBC) has signed a non-binding term sheet to acquire CFH Limited.
CFH is a seed-to-shelf CBD manufacturer operating in research & development, extraction and manufacturing with both a branded and white-label portfolio.
The company would acquire CFH for US$14,320,000 payable in SBBC common shares.
As of year-end 2021, CFH had assets of approximately US$5.1M, liabilities of approximately US$1.9M, and sales of approximately US$6.9M.
The transaction is subject to mutual due diligence and other customary conditions.
“In Q1 2022, the PureKana brand grew over 300 per cent versus a year ago. To support this growth, it is critical we enhance our research and manufacturing capability,” stated Kathy Casey, Simply Better Brands’ CEO. “As we looked to expand, we were so impressed with CFH’s team and capability. Their commitment to quality, proprietary research, and mission to improve the quality of people’s lives is synonymous with our journey.”
“SBBC has demonstrated tremendous marketing expertise and sales growth with their diversified growth portfolio of health and wellness brands,” stated Jim Ott, CEO of CFH. “There are numerous synergies and efficiencies that will come from utilizing CFH’s science expertise and vertical supply. The partnership will provide significant industry and revenue diversification for all shareholders of CFH.”
Simply Better Brands operates an international omni-channel platform offering plant-based and holistic wellness consumer products.
Simply Better Brands (SBBC) is unchanged trading at $3.50 per share as of 9:38 am EST.
