In what it is billing as one of the largest private consumer packaged goods (CPG) acquisitions within the U.S. cannabis sector, Greenwich’s BR Brands has acquired the remaining capitalization and outright control of Mary’s Brands for an undisclosed amount.
Denver-based Mary’s Brands includes Mary’s Medicinals, Mary’s Methods, Mary’s Nutritionals and Mary’s Tails.
The acquisition was made in conjunction with BR Brand’s first closing of its Series A capital raise backed by its strategic capital partner, Rose Capital.
BR Brands said it utilizes a “buy and build” strategy, whereby it amalgamates best-in-class cannabis brands and operators under the BR Brands umbrella, “creating operational synergies and centralizing strategic capital allocation.”
“BR Brands was established to provide emerging, premium cannabis brands with access to best-in-class operating talent and capital expertise,” BR Chairman Andrew Schweibold said. “As a CPG house of brands with one of the largest geographic reaches within the global legal cannabis sector, BR Brands is poised to drive outsized returns for all of its stakeholders through a buy and build strategy, focused on maximizing its value through strategic acquisitions and ongoing accretive R&D.”
In addition to Mary’s, BR Brands has partnered with and invested in Beezle, a manufacturer of best-in-class concentrates; Défoncé, a manufacturer of high-end cannabis-infused confectionary products; and Rebel Coast, a manufacturer of premium, alcohol-free beverages infused with THC.
Over the next 12 to 18 months, BR expects to deploy over $100 million of acquisition and growth capital and to grow its industry presence by supporting proprietary R&D initiatives that will incite new product development.