- Simply Better Brands (SBBC) has signed a non-binding term sheet to acquire the BRN Group
- The BRN Group provides brand management services with a focus on the global cannabis industry
- Simply Better will pay a total consideration of US$10M in common shares
- The parties intend to complete the transaction by no later than January 31, 2022
- Simply Better Brands leads an international omni-channel platform with diversified assets in the plant-based and holistic wellness consumer product categories
- Simply Better Brands (SBBC) is unchanged trading at $5.00 per share
Simply Better Brands (SBBC) has signed a non-binding term sheet to acquire the BRN Group.
The BRN Group provides brand management services including strategic brand planning, digital presence mapping and online and offline distribution with a focus on the global cannabis industry. Its assets include Seventh Sense, an industry-leading topical CBD brand.
Simply Better will pay a total consideration of US$10M in common shares.
Closing is subject to Simply Better’s analysis of BRN’s annual audited financial statements, the retention of certain key personnel, and that BRN has, at closing, no less than US$4M in cash on hand.
The parties intend to complete the transaction by no later than January 31, 2022.
Kathy Casey, CEO of Simply Better Brands, stated,
“The acquisition of the BRN Group is a good opportunity for our company for two key reasons: it expands our wellness product portfolio with the addition of the Seventh Sense brand, enabling us to meet the needs of a more diverse consumer target, and it also brings additional capital to fuel our growth. We plan to use our business model to capture synergies across our online ecommerce platform and supply chain to drive additional value for our shareholders.”
Simply Better Brands leads an international omnichannel platform with diversified assets in the plant-based and holistic wellness consumer product categories.
Simply Better Brands (SBBC) is unchanged trading at $5.00 per share as of 11:45 am EST.