Green Thumb Industries Inc. announced transactions with Agrify Corporation to sell certain consumer packaged goods brands, enter into a license arrangement, and extend a loan of $45 million.
The brands involved in the transaction include RYTHM, Beboe, Dogwalkers, Doctor Solomon's, &Shine, and Good Green.
The purchase agreement consisted of cash consideration of $50 million for the equity interests in VCP.
Brand Transactions with Agrify
Green Thumb Industries sold certain consumer packaged goods brands to Agrify Corporation for cash consideration of $50 million.
License Arrangement
A license agreement was made to permit Green Thumb to continue manufacturing and distributing the brands involved in the transaction.
Loan Extension
Green Thumb extended a loan of $45 million to Agrify Corporation.
- The transactions with Agrify allow Green Thumb Industries to focus on core operations while maintaining a presence in the cannabis consumer goods market through licensing arrangements.
- This strategic move enhances Green Thumb's financial position and creates opportunities for further growth and collaboration within the industry.
The brand transactions with Agrify mark a significant step for Green Thumb Industries in streamlining operations and strengthening its position in the cannabis market through strategic partnerships.