Johnson Brothers Ups Stake In JV With CA Distributor Humble & Fume
June 27, 2023Fourth-ranked U.S. spirits and wine wholesaler Johnson Brothers again increased its stake in its cannabis joint venture with Humble & Fume. Following a $6 million investment it made last fall through its Green Acre Capital Distribution Corp., Johnson Brothers has invested an additional $2 million. Humble & Fume pumped in $1.9 million as well. These investments shifted the ownership stake in the JV from an even 50/50 split, giving Johnson Brothers the slight edge, now holding 50.2% and Humble holding 49.8%.
“The backing provided by Johnson Brothers through their Green Acre option agreement exemplifies their dedication to supporting our expansion initiatives in the United States,” said Jakob Ripshtein, CEO of Humble. “We take great pride in our partnership with Johnson Brothers, renowned for their exceptional operational excellence in nationwide alcoholic beverage distribution.”—Danny Sullivan
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