trending Market Intelligence /marketintelligence/en/news-insights/trending/Qoh9OZSomvgzNYofMy19BA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Altria-backed Cronos Group to buy CBD-infused skin-care makers for $300M

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


Altria-backed Cronos Group to buy CBD-infused skin-care makers for $300M

Altria Group Inc.-backed Canadian cannabis company Cronos Group Inc. said Aug. 2 that the company will buy four subsidiaries of private equity firm Redwood Holding Group LLC for $300 million in cash and stock.

The subsidiaries make hemp-derived cannabidiol-infused skin care and other products.

Toronto-based company will pay $225 million of the total consideration in cash while the rest will be in newly issued Cronos Group common shares.

Redwood subsidiaries co-founders Robert Rosenheck and Cindy Capobianco will join Cronos Group and continue to lead the of the Redwood platform with its same team. Brand names and operating locations will remain unchanged.

The transaction, which includes the net of Redwood subsidiaries' estimated cash and debt, is expected to close in the third quarter of 2019. The deal is subject to customary closing conditions and regulatory approvals.