Ayr Wellness Acquires Cultivauna, LLC (Levia)

August 16, 2021

Ayr Wellness Inc. has entered into a binding letter of intent to acquire 100% of Cultivauna, LLC, the owner of the Levia brand of cannabis-infused seltzers and tinctures. The deal includes $20 million in upfront consideration (up to $10 million cash, remainder in stock) and an earn-out of up to $40 million in shares tied to 2022–2023 revenue targets; the acquisition is expected to close by the end of 2021 subject to regulatory approvals.

Buyers
Ayr Wellness Inc.
Targets
Cultivauna, LLC (Levia)
Industry
Food & Beverage
Location
Massachusetts, United States
Transaction Type
Buyout

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