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Halo Acquires Outer Galactic Chocolates, Expands Edibles Offering

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Halo Acquires Outer Galactic Chocolates, Expands Edibles Offering

Halo Labs Inc. (NEO: HALO) (OTCQX: AGEEF) has finalized a takeover of Outer Galactic Chocolates LLC.

The Toronto-based company purchased Outer Galactic for roughly CA$230,000 (US$172,003).

The acquisition grants Halo the right to manufacture infused and edible cannabis products through the Ukiah, California-based Mendo Distribution and Transportation LLC facility. It also includes packaging of all related produced finished goods, Halo Labs .

The "Type N" manufacturing license in Mendocino County — which Outer Galactic holds — doesn't allow for extraction. Halo will utilize its Cathedral City, California-based "Type 7" licensed facility.

Other highlights from the transaction include the launching of Halo's edible products gummies and elixirs in THC and several THC/CBD formulations under Hush's name, distribution of OGC 's branded chocolate edibles, and retaining of OGC founder, Jeff Stewart, as a consultant and expert on the subject.

The company also noted that Stewart would help with developing the new Hush line of gummies.

Halo CEO and Co-Founder Kiran Sidhu sais obtaining a Type N manufacturing license in California is a "step in increasing Halo's product offering in this high growth category. "

"We look forward to expanding all of our product offerings in California, one of the world's largest cannabis markets," he added.

Edibles Market In North America, Halo's Recent Deals

Edibles sales in North America are projected to reach over $4.1 billion by 2022, according to BDS Analytics.

Halo emphasized the importance of variety in edibles selection, suggesting that it is "critical" to catching the consumers' interest and loyalty.

The company is also planning to introduce one-, ten-, and twenty-piece gummy varieties, featuring multiple flavors.

Last month, Halo closed two acquisitions in California, including the purchase of a retail management company, Crimson & Black and Merger, and merger of its subsidiary C&B Merger Su Inc. with C&B.

Courtesy photo

 

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