CBD of Denver, Inc. (OTC:CBDD) has signed an agreement to acquire 100% of Mellow, a CBD ecommerce distribution platform and technology company, with capabilities in the UK, Europe, and Asia, for an undisclosed sum.
The acquisition is expected to close in the second quarter of 2022. The company didn’t disclose the terms of the agreement.
Why It Matters?
Paul Gurney, CEO of CBD of Denver said that the acquisition will combine technology and retail e-commerce distribution alongside manufacturing and supply chain infrastructure to set up a turnkey solution for the CBD industry within Europe.
Mellow also “gives us an entrance into the rapidly evolving CBD markets in the fast-growing Asia Pacific region," Gurney continued. "The Mellow technology stack will accelerate our plans to become the go-to name for cannabis across all parts of the value chain in international markets."
Neil Tunbridge, co-founder of Mellow, said that the result will be a “truly end-to-end, technology-led CBD/cannabis business, based in Europe, but with global capability and scale."
What’s Next?
CBD of Denver will host a conference call to discuss the Mellow acquisition on Wednesday, April 6, at 1:00 p.m. ET.
Photo: Courtesy of Photo by Chris Liverani on Unsplash
