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Marijuana Industry News August 22, 2019 MJ Shareholders
GREENWICH, Conn., Aug. 21, 2019 /PRNewswire/ — PRESS RELEASE — BR Brands, LLC, a consumer packaged goods (CPG) company within the global legal cannabis industry, has announced the first closing of its Series A capital raise backed by its strategic capital partner, Rose Capital. In conjunction with this closing, BR Brands acquired the remaining capitalization and out-right control of Mary’s Brands, the creator of such brands as Mary’s Medicinals, Mary’s Methods, Mary’s Nutritionals and Mary’s Tails. This acquisition is one of the largest private CPG acquisitions to date within the U.S. cannabis sector.
By utilizing a “buy and build” strategy, BR Brands amalgamates best-in-class cannabis brands and operators under the common BR Brands umbrella, creating operational synergies and centralizing strategic capital allocation. Presently, BR Brands represents one of the largest consortiums of cannabis brands/IP and possesses manufacturing and production capabilities on a scale unmatched within the industry.
“BR Brands was established to provide emerging, premium cannabis brands with access to best-in-class operating talent and capital expertise,” said Andrew Schweibold, chairman of BR Brands. “As a CPG house of brands with one of the largest geographic reaches within the global legal cannabis sector, BR Brands is poised to drive outsized returns for all of its stakeholders through a buy and build strategy, focused on maximizing its value through strategic acquisitions and ongoing accretive R&D.”
BR Brands’ goal is to identify and incubate emerging cannabis brands that share the company’s vision of integrity, commitment to consistent dosing and product efficacy. Mary’s, founded in 2013 and known for its award-winning transdermal technology found in its cannabis patch and transdermal dispensing gel pen, is dedicated to pioneering and delivering natural, THC, CBD and other cannabis-infused products to positively impact the lives of both people and pets.
“BR Brands has proven to be a valued operational and strategic capital partner. They have helped us grow in the short-term and secure the infrastructure necessary to take advantage of the growth opportunities they bring to the table for Mary’s Brands,” said Lynn Honderd, CEO and co-founder of Mary’s. “BR Brands is deeply committed, and uniquely poised, to further accelerate Mary’s mission to impact the lives of people and pets through our cannabis products.”
In addition to Mary’s, BR Brands has partnered with and invested in Beezle, a manufacturer of best-in-class concentrates, Défoncé, a manufacturer of high-end cannabis infused confectionary products, and Rebel Coast, a manufacturer of premium, alcohol-free beverages infused with THC.
As BR Brands continues to execute upon its acquisition strategy, it will broaden its existing SKU base and geographic footprint by partnering with and building a pipeline of brands that boast the highest quality products across the cannabinoid spectrum including both CBD and THC. In the next 12-18 months, BR Brands expects to deploy approximately $100-plus million of acquisition and growth capital to aid operators in fueling desired growth both within the U.S. and globally. BR Brands also seeks to grow its industry presence by supporting proprietary R&D initiatives that will incite new product development.
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