Charlotte health-products company cbdMD acquires local e-commerce operation in $4M deal

Local health-products company cbdMD Inc. closed on a $4 million deal this week to acquire DirectCBDOnline.com from Twenty Two Capital. The purchase price includes $2 million in cash and another $2 million in equity, said Marty Sumichrast, co-CEO of cbdMD. The company sells a range of cannabidiol (CBD) products, such as gummies, topicals, bath products and pet chews. CBD is an ingredient derived from the cannabis or hemp plant. CBD has grown into a multibillion-dollar industry in the last few years,…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news