April 20, 2022 By Grow Opportunity staff
In a deal that expands its footprint in the U.S., cannabis supplier YourWay Cannabis Brands Inc. is acquiring Ionic Brands Corp. for an undisclosed amount.
In an April 20 news release, YourWay officials said the transaction enables potential expansion of its “House of Brands” into two additional leading cannabis markets: Washington and Oregon, while also exposing YourWay to an additional 16 million consumers.
“The combined company’s products are expected to be carried by more than 450 retailers, with significant market penetration in Arizona and Washington,” the news release said. “In 2021, Ionic Brands distributed over 6,970,889 million packaged products.”
Following the transaction, the news release continued, the combined company will have 12 owned brands in four key states, with expanded consumer offerings and exposure to high growth categories, including edibles, beverages, and packaged flower.
Ionic Brands brings complementary strength to our existing business, providing the ability to bring more innovative products to consumers and bolstering our footprint in two new US markets,” said Jakob Ripshtein, YourWay’s executive chairman of the board.
YourWay is headquartered in Phoenix, Arizona, with Canadian headquarters in Vancouver.
Print this page