Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has completed the acquisition of Vessel Brand Inc., an industry leader in cannabis consumer technology. According to Flora Growth, the acquisition provides the company with an immediate foothold in the North American cannabis market because Vessel brings with it a trailing 12-months revenue of $6.6 million and year-over-year growth of 90%. In addition, the acquisition diversifies Flora’s premium brand portfolio through Vessel’s strong position in the luxury cannabis consumer technology market. According to the announcement, key Vessel team members will join Flora’s executive bench and support the growth of Flora’s brand portfolio. Initially there will be a focus on enhancing the U.S. marketing and sales strategies for the Stardog, Mind Naturals and Ô (Awe) brands. “We are incredibly excited to welcome the Vessel team into our company,” said Flora Growth president and CEO Luis Merchan. “They are exceptional brand builders with a proven track record of launching brands and capturing market share in the rapidly expanding U.S. cannabis landscape. With this acquisition now closed, we can focus on the execution of our combined expansion strategy. The integration of our two organizations is well underway and the Vessel team is expected to substantially enhance the branding and marketing function of Flora Growth as we look to further increase market share in the global cannabis and wellness markets.”
To view the full press release, visit https://cnw.fm/pcpfk
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers compelling customer experiences, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. For more information about the company, please visit www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CannabisNewsWire is part of the InvestorBrandNetwork.
