June 21, 2021 By Grow Opportunity staff
The Valens Company Inc. has completed its acquisition of U.S.-based CBD company, Green Roads, for US$40 million.
The acquisition is expected to give Valens a direct entry to the U.S. market and solidify cross-border partnerships. Over the next year, Valens expects to invest approximately $10 million into the Green Roads business to capitalize on anticipated growth of the U.S. CBD market.
“We expect to realize strong synergies and to aggressively pursue various strategic opportunities that are now available to our combined business through this transaction,” said Valens co-founder and chief executive, Tyler Robson, in a press release.
“The combination of Valens and Green Roads makes for an unbeatable team, diversified distribution network, and unparalleled product development and manufacturing platform, which we expect will provide us the footprint to become one of the biggest players in the global cannabis health and wellness market.”
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