Canadian CBD company Cronos Group is set to purchase Lord Jones, a CBD brand owned by Redwood Holding Group, along with other Redwood subsidiaries, for $300m.
Of this, $225 million will be paid in cash with the balance paid in newly issued Cronos Group common shares: Cronos will fund the cash portion of the transaction with cash on hand.
Redwood co-founders Robert Rosenheck and Cindy Capobianco, a former Vogue editor, will join Cronos to oversee development of the Redwood platform.
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