22nd Century Group Acquires RX Pharmatech Ltd
January 24, 2023
22nd Century Group, through its GVB Biopharma business, acquired UK-based RX Pharmatech Ltd, a distributor of cannabinoid/CBD products and holder of numerous U.K. novel food applications. The deal includes $650,000 up-front in cash and stock plus a three-year equity earn-out tied to revenue milestones and aims to strengthen 22nd Century's access and distribution in the U.K. and EU consumer CBD market.
- Buyers
- 22nd Century Group, Inc., GVB Biopharma
- Targets
- RX Pharmatech Ltd
- Industry
- Food & Beverage
- Location
- United Kingdom
- Transaction Type
- Buyout
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