Deals
Cronos Near $300 Million Deal for Owner of Lord Jones
- Pot company will pay $225 million in cash, balance in shares
- Purchase of Redwood businesses is Cronos’s first U.S. deal
This article is for subscribers only.
Cronos Group Inc., the first marijuana company to list on a U.S. exchange, has reached a deal to acquire CBD businesses from Redwood Holding Group LLC, including high-end brand Lord Jones, in a $300 million deal.
Cronos will pay $225 million in cash and the balance in shares for four operating subsidiaries, the Canadian company said in a statement Friday, confirming an earlier report by Bloomberg.