Canada conglomerate buys Natick CBD firm for $40M
Photo | WBJ File
Massachusetts voters approved a ballot initiative to legalize cannabis for adult use in 2016.
Reliva, a CBD company based out of Natick, was acquired in May by Aurora Cannabis, an international conglomerate out of Canada, according to a press release announcing the merger.
Reliva was acquired for $40 million with the potential earn-out of up to $45 million, according to the announcement.
“The partnership between Aurora and Reliva is expected to create a market leading international cannabinoid platform that we believe can deliver robust revenue and profitable growth," said Michael Singer, executive chairman and interim CEO of Aurora, in a statement.
Reliva’s CBD products, which are sourced from industrial hemp farms in Oregon, are sold at more than 20,000 stores, according to the company’s website.
Aurora Cannabis, headquartered in Alberta, works in both the medical and consumer cannabis markets, doing business in 25 countries, according to its website.
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