Village Farms acquires 100% of Balanced Health Botanicals

On August 16, 2021, Village Farms International, Inc. ("Village Farms") announced that it acquired 100% interest of privately-held, CBD-platform Balanced Health Botanicals LLC ("Balanced Health") in a transaction valued at US$75 million, effective immediately.

Under the terms of the acquisition agreement, the consideration to the sellers of Balanced Health is composed of US$30 million paid in cash, net of all debt of Balanced Health and transaction expenses, and 4,707,113 common shares of Village Farms. The common shares issued pursuant to the agreement are subject to lock-up agreements which allow for immediate trading, subject to compliance with applicable securities laws, of 25% of shares received, with the balance to be released for trading in three (3) equal installments of 25% every four (4) months.

Further information can be found on Canada Newswire’s website.

Balanced Health owns and operates some of the largest brands in the hemp-derived CBD market. Uniquely positioned to control the entire process from seed-to-self, it is known for its high-quality consumer-focused products and best-in-class manufacturing processes.

Village Farms is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada.

It leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and new high-growth opportunities in the cannabis and CBD categories in North America and selected markets internationally.