THE WHAT? Resonate Blends, a cannabis and hemp holding company, has signed a letter of intent to acquire Florida-based cannabis wellness brand Lemon and Grass.
THE DETAILS The purchase is expected to complement Resonate’s existing product line, and will expand its market presence and national footprint through multi-state distribution and product level synergies, according to company CEO Geoff Selzer.
Lemon and Grass produce a product line of balms, bath salts, relief capsules, body oils, tinctures and transdermal patches, and uses indoor and sun-grown cannabis from associated farmers.
As part of the acquisition, Lemon and Grass will make licensing plans for more U.S. states, as well as launching in Canadian provinces Ontario and Alberta this month.
THE WHY? According to Selzer, “Lemon and Grass reinforces the core notion of Resonate’s vision that value-added brands are the future of Cannabis. This acquisition is the first step of our multi-state expansion plans and supports our strategy of growing both organically through internal development and by acquisition.”