Aurora To Acquire U.S. Hemp Company With 2nd-Largest CBD Market Share
Miguel Martin, CEO of Reliva, called the enterprise “a significant opportunity”
Aurora Cannabis is making its way into the U.S. market after agreeing to acquire Reliva in a $40 million all-stock deal. Reliva’s products are sold in more than 20,000 retail locations in the U.S. and the company holds the second-largest CBD market share in the country.
According to a press release, Reliva has generated positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) over the previous 12-month period. Aurora is required to generate positive adjusted EBITDA by the end of 2021’s first fiscal quarter as part of its debt pact signed in February, Motley Fool reports.
Aurora said Reliva “stood out among a lengthy list of potential partners” due to their positive EBITDA, “focus on regulatory, testing and compliance protocols,” their management team’s “extensive experience selling and marketing regulated consumer packaged goods” and strong relationships with “critical trade partners that provide a U.S. national distribution footprint.”
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