Ayr Wellness To Acquire Cultivauna Cannabis Seltzers For Up To $60 Million
August 17, 2021New York-based Ayr Wellness has agreed to acquire Cultivauna, a producer of cannabis seltzers. The deal is heavily weighted toward payouts down the road, as Ayr is set to pay $10 million in cash and $10 million in stock up front for 100% ownership of Cultivauna with up to an additional $40 million to be paid out if certain revenue targets are met.
Ayr operates in six states, giving it runway to increase the visibility of Cultivauna’s Levia brand, currently only available in Massachusetts. Levia’s offerings comprise three flavored cannabis seltzers, all 5mg a 12-ounce can.—Danny Sullivan
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