Florida-based Just Brands, a subsidiary of Toronto’s Flora Growth Corp., acquired all of No Cap Hemp Co.’s assets.
Instead of a cash or share-based deal, Fort Lauderdale-headquartered Just Brands will pay 10% of gross revenue from sales of No Cap products, according to a news release.
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The total amount that Just Brands will pay is capped at $2 million.
“This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business,” Flora Growth Chair and CEO Luis Merchan said in a statement.
Flora Growth pointed out in its release that the deal will add:
Smokable products to the Just Brands line. Roughly 75 stock-keeping units (SKUs) to Flora’s portfolio as well as the Moonblunt and No Cap brands. Smokable products to the Just Brands line.
The release also noted that “No Cap’s
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