Agrify Corporation announced the acquisition of a brand portfolio including RYTHM, Dogwalkers, and Beboe from Green Thumb Industries.
The company is changing its name to RYTHM, Inc. and will begin trading under the symbol 'RYM' on September 2, 2025.
This strategic move positions Agrify as a leader in the well-being consumer space with expectations of rapid topline growth through licensing revenue and sales expansion.
Acquisition of Brand Portfolio
Acquired brand intellectual properties including RYTHM, Dogwalkers, Beboe, and others from Green Thumb Industries for US$50 million.
Licensing Agreement
Entered into an agreement to license the Brands to Green Thumb Industries for manufacturing and distribution.
Name and Ticker Symbol Change
Changing its name to RYTHM, Inc. and will trade under the symbol 'RYM' from September 2, 2025.
- The acquisition strengthens Agrify's position in the well-being consumer space and is expected to drive revenue growth through licensing and sales expansion of THC products.
- Consumer trends towards seeking alternatives to alcohol and well-being products indicate a favorable market for THC products.
- The expanded brand portfolio, including RYTHM, positions the company to cater to a larger consumer base and capitalize on changing preferences.
The rebranding and acquisition mark significant moves for Agrify Corporation, positioning it for substantial growth and market presence in the cannabis and hemp industries.