cbdMD (NYSE American: YCBD) has announced that it has entered into a definitive asset purchase agreement to acquire operating assets and brands of Twinlab, including Twinlab, Reserveage, Metabolife, and Alvita Tea.
According to cbdMD, the acquisition is being conducted through an assignment for the benefit of creditors proceeding and is subject to court approval and customary closing conditions.
In a statement, Ronan Kennedy, CEO of cbdMD, commented, “Twinlab is the kind of brand equity that companies spend decades trying to build. The brands, distribution channels, and team are highly complementary to what we already operate, and this transaction gives these brands the stability and support they need for their next chapter. We believe there is a significant opportunity to build on cbdMD’s revenue growth by applying our marketing, creative, and ecommerce resources to drive brand awareness and expand direct-to-consumer sales, alongside the strong wholesale and retail presence these brands already have. From the fundamentals of nutrition to the frontier of modern wellness, the combined portfolio is a unique offering in consumer wellness.”
