Green Hygienics Holdings Inc, a company that focuses on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical grade-bioactive cannabinoids, has announced the letter of intent (LOI) to acquire the Bohemian Beverage Co.
Bohemian Beverage Co. has a portfolio of twenty beverage brands, including CBD-infused teas, kombuchas, beers, ciders, ready-to-drink cocktails, and more, which are directly distributed and sold through the firm’s own subsidiary storefront.
Ron Loudoun, CEO of Green Hygienics said: “The beverage sector is very competitive and there is a steep learning curve. This strategic acquisition will allow us to enter the CBD-infused drink market supported by expertise and existing distribution while mitigating risk and, more significantly, will bring immediate revenue and hard assets to our financials. When you compare this brand portfolio to any of the large marketers in the space, it quickly becomes evident what extraordinary potential exists in this opportunity”.
As part of the transaction, Green Hygienics will invest in the construction of a larger bottling facility, “The Grove Brewery”, that is combined with a farmers’ market on Portsmouth Boulevard in Chesapeake, Virginia.
The companies are working on a definitive agreement.
Source: Green Hygienics press release