Cronos Group Closes Lord Jones Acquisition

In the latest of a series of acquisitions by marijuana stocks, Canada's Cronos Group (NASDAQ: CRON) has wrapped up its most recent asset buy. The company announced in a regulatory filing that its purchase of four operating subsidiaries of Redwood Holding Group has closed.

Cronos agreed to buy the subsidiaries last month in a move that gave it control of the upscale Lord Jones brand of cannabidiol (CBD)-based beauty care products. Cronos is paying around $300 million for the subsidiaries, which are based in the U.S. Of that amount, $225 million is to be transacted in cash; the rest is being settled in newly issued shares of Cronos stock.

Image source: Redwood Holding Group (Lord Jones).

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Source Fool.com