FORT LAUDERDALE, Fla. & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced that the Company received the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference in Chicago.
“We are honored to receive the award for Best M&A Deal at the Benzinga Cannabis Capital Conference, which recognizes our strategic M&A objectives including acquiring products, expertise, expanding distribution, and customers,” said Luis Merchan, Chairman and CEO of Flora.
Flora completed the acquisition of JustCBD in February 2022, and it immediately offered the Company an established CPG brand with a portfolio of over 300 products, a direct-to-consumer business with over 300,000 customers, and a network of over 14,000 stores across the US and internationally. JustCBD generated audited revenue of US$28 million and EBITDA of US$7 million in fiscal year 2020 across multiple product categories. The acquisition has enhanced Flora’s infrastructure in the US with widespread distribution across various mainstream US channels.
Flora’s Chairman and CEO, Luis Merchan, will be speaking on a panel with the CEOs of other international companies and industry experts, entitled “M&A Fever: Consolidation Heating Up in Canada & Europe” taking place on Tuesday, September 13, at 2:30pm CT on the Industry Stage. Merchan intends to discuss consolidation in the industry and the effect that it’s having on major players around the world.
Flora executives and personnel will be exhibiting at booth #26. Conference goers and interested investors are encouraged to stop by the booth to discuss Flora’s IPO on the Nasdaq last year and the Company’s growing suite of products within its House of Brands.
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions. Visit www.floragrowth.com or follow @floragrowthcorp on social media for more information.
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