Lucy Scientific Discovery Acquires BlueSky Wellness

September 12, 2023

Lucy Scientific Discovery Inc. (NASDAQ: LSDI) agreed to acquire BlueSky Wellness Inc. in an all-stock transaction that will add a portfolio of plant-based wellness CPG brands (Keoni, Keoni Sport, Blush Wellness, AMMA Healing) and e-commerce capabilities. BlueSky shareholders will receive 3.5 million Lucy shares plus up-to-five-year EBITDA-based earnouts; Lucy expects the combined transactions with its High Times IP acquisition to add at least $30 million in revenue and $10 million of EBITDA in the first 12 months.

Buyers
Lucy Scientific Discovery Inc.
Targets
BlueSky Wellness Inc.
Sellers
BlueSky Wellness shareholders
Location
British Columbia, Canada
Transaction Type
Buyout

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