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BevCanna To Close Naturo Acquisition In January, Calls Deal A 'Perfect Fit'

December 17, 2020 11:27 am
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BevCanna To Close Naturo Acquisition In January, Calls Deal A 'Perfect Fit'

BevCanna Enterprises Inc. (CSE:BEV) (OTCQB:BVNNF) expects its purchase of Naturo Group Inc. to close on or before Jan. 20, 2021.

The two companies executed the agreement on Dec. 11.

BevCanna, a manufacturer of cannabinoid-infused beverages, will purchase beverage developer and producer Naturo Group, giving it a diverse portfolio of cannabis-infused beverages.

BevCanna highlighted some of the biggest advantages coming from this deal, such as:

  • Formation of a “development to distribution” beverage production company for both cannabis-infused and traditional products.
  • Obtaining ownership of an $18 million worth proprietary on-site natural alkaline spring water aquifer at times when water resources are in deficit.
  • Creating a massive market distribution network that counts more than 3,000 retail points.  
  • Obtaining Naturo’s 40,000 square feet beverage facility, worth $10.4 million.

“Bringing these two leaders within the Canadian beverage industry together will unlock significant potential for growth,” says Don Wood, an advisor and board member of BevCanna. “Consumers continue to flock to health and wellness focused products, and BevCanna’s wide range, including the innovative TRACE offering, with its proprietary plant-based mineral beverage, alkaline and sparkling beverages, and natural supplements, is a perfect fit for this progressive market.”

Wood is also the former CEO of Arrowhead Spring Water.

John Campbell, CSO of BevCanna, says the two companies have "significant synergies" that combine to create an a new organization "with a range of appealing products, an unmatched distribution network and a unique portfolio of assets.”