BR Brands To Merge With Dixie Brands In $43 Million DealMarch 10, 2020
Two prominent cannabis brand companies are set to merge, with BR Brands and Dixie Brands agreeing to join forces. Under the deal, which is expected to be completed in the third quarter of this year, BR will execute a reverse takeover of Dixie Brands, with the latter company valued at $43.2 million.
Founded and backed by Greenwich, Connecticut-based Rose Capital, BR Brands operates in 11 states and Puerto Rico and has a portfolio including the Mary’s Medicinals range of medical and topical products, as well as three California-based brands: Defonce (chocolates), Beezle (concentrates), and Rebel Coast (alcohol-removed cannabis wines).
Denver-based Dixie Brands, whose footprint spans six states, has a range that includes edibles, beverages, tinctures, topicals, and extractions across the Elixir, Dixie, Synergy, AcesoHemp, and Therabis labels. Dixie also has a strategic partnership with the AriZona beverage brand. Dixie president and CEO Chuck Smith and BR Brands chairman Andrew Schweibold will hold those same roles at the merged company.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.