Cannapany on March 1, 2022 No Comments
The completion of the acquisition came in the middle of last month
The leading vertically integrated US multi-state cannabis operator (MSO), Ayr Wellness, appears to have made good on its previously announced deal to acquire Cultivauna, LLC. This company is known for producing Levia-branded water-soluble tinctures and cannabis-infused carbonated beverages. The intention to acquire Cultivauna was initially announced in early August of last year. After completing the necessary paperwork and receiving the necessary approvals, the purchase has finally been finalized.
Jonathan Sandelman, founder, president and CEO of Ayr, said that adding Levia to the equation is a key addition to Ayr’s portfolio of high-quality brand offerings. “We look forward to expanding the presence of Levia’s seltzers and water-soluble tinctures across our multi-state footprint, while bringing new, innovative form factors to life, like beverage enhancers. With a fast-acting formula and great taste, we believe Levia will be a crucial component in expanding our reach to new and existing consumers who seek a predictable and familiar cannabis experience,” Sandelman added in his remarks.
Levia beverages are known for featuring a patented technology capable of delivering an effective and rapid effect of tetrahydrocannabinol (THC) as it enters the body. Generally, it only takes a maximum of 20 minutes to start feeling effects that can even last for three hours. As a result, consumers can achieve a more consistent experience compared to many edibles.
The Massachusetts Cannabis Control Commission (CCC) gave the go-ahead for the transition of ownership in the middle of last month. Those interested in viewing the terms of the transaction can find them in the “Press Releases” section of Ayr’s official website.
With this new acquisition, there is no doubt that Ayr is now starting the year off on the right foot. Increasing the portfolio of high-quality products has always served as an ideal driver to boost a company’s earnings even further.
Congratulation!