Village Farms International Inc (NASDAQ: VFF) has channeled US$75 million into the acquisition of a CBD platform in Colorado known as Balanced Health Botanicals. It is a great move that will enable the company to take advantage of the high potential US retail CBD market estimated to achieve a growth of about US$16 billion by 2025.
Focusing on profitability and brand awareness
Working towards boosting brand awareness happens to be one of the pillars in maximizing sales. Therefore, the company will create brand awareness and expand its retail channels to satisfy the broad customer base.
Village Farms International intends to add to most of its product categories and count on its experienced team to achieve its set objectives. It discloses the payment means, outlining that it resorted to making payments through both its common shares and US$30 million in cash. The common shares in question represented US$45 million, enabling the company to get the acquisition to its side.
Leaders speak out
Village Farms International CEO Michael DeGiglio, opines, “Since US federal legalization in late 2018, hemp-derived CBD products, as well as other cannabidiol-based products, have been part of our comprehensive strategy focused on high-value, high-growth plant-based consumer packaged goods opportunities in cannabis.”
Mr. DeGiglio considers Balanced Health an opportunity to fetch higher profits and develop greater shareholder value. The leader speaks out about the opportunity to become a part of the US high-THC cannabis market and reap the maximum benefits that stand right in front of them. He looks forward to brighter times ahead where they will be able to access the market more readily.
The Chief Executive Officer of Balanced Health Botanicals, Chase Terwilliger, seems excited about the new collaboration. He takes great pride in their team for the commendable work to advance their leading brand. He reveals that their products have continued impacting most consumers’ lives and sees the latest collaboration as a significant move towards achieving their set goals.
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