Supreme Cannabis expands wellness brand with new acquisitions
July 15, 2019 By Grow Opportunity staff
Supreme Cannabis continues to make its mark in Canada’s wellness market, announcing the acquisition of Truverra Inc. July 17 and the Blissco Cannabis Corp. just a few days before on July 11.
With Truverra as the company’s newest addition to its portfolio of Canadian cannabis brands, the Toronto-based company gives Supreme Cannabis access to new international markets. Truverra Europe in the Netherlands sells a broad portfolio of hemp-based CBD products in select European markets.
Canadian Clinical Cannabinoids, another Truverra subsidiary, is a licensed facility in Scarborough, Ont. that produces cannabis extracts such as concentrates and vaping liquids.
“The Supreme Cannabis Company has a strong track record for executional excellence, with their support and robust corporate services we look forward to strengthening our operations in Canada and globally,” said Jeff Adams, Truverra CEO.
The $48 million deal folds Blissco, a B.C.-based eco-extraction company, into Supreme Cannabis’ portfolio of Canadian cannabis brands.
“With the closing of this acquisition, Supreme Cannabis will expand its portfolio to include a consumer-focused brand that specializes in products for the premium global wellness category,” Supreme Cannabis CEO Navdeep Dhaliwal said in a statement.
Blissco is a multi-licensed processor, cultivator and distributor in Langley, B.C. Dhaliwal said Supreme Cannabis hopes to combine Blissco’s state-of-the-art extraction capabilities with the high-quality cultivation of its subsidiary, 7ACRES.
“Operating as Supreme Cannabis’ wellness brand will allow Blissco to focus its operations and effectively pursue opportunities in the premium wellness space,” said Blissco CEO Damian Kettlewell, who will continue to lead the company as an employee of Supreme Cannabis.
“We look forward to working with Supreme Cannabis’ management team and benefitting from the company’s shared corporate services model, including best-in-class processes, commercialization experience, regulatory, marketing and brand-building expertise.”
Blissco has an 18,000-square-foot extraction facility which provides wellness products for markets in British Columbia, Alberta, Saskatchewan and New Brunswick. The company has also initiated its EU-GMP certification process and completed its first inspection by German authorities.
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