Cannabis Baked Goods Producer, GOOD CO-OP, To Be Bought Out By Plus Products
Plus Products Inc. has signed a definitive agreement to acquire the assets of GOOD CO-OP, INC., a cannabis baked goods producer based in California. With this acquisition, PLUS is continuing its growth as a top edibles brand in the cannabis industry.
Known for producing four full-time cannabis-infused products, PLUS is using this acquisition as part of its strategy to dominate another sector of the edibles industry. The acquisition value is right around CAD$2,030,000 and is expected to be satisfied by issuing 357,464 restricted subordinate voting shares of PLUS.
As the biggest brand of edibles California has, PLUS is pushing its presence in the largest edibles category in the industry: gummies. With this acquisition, PLUS shows that it’s looking to become a major player in the second biggest edibles category, baked goods, giving it an even bigger market share of the edibles market. With the baked goods category making up 13% of the edibles industry in 2018, it’s easy to see how much PLUS stands to gain with this strategic entrance.
This acquisition is subject to standard closing conditions customary in these types of transactions. It’s expected to be completed by or around December 14, 2018.