Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through 22nd Century's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
3 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
22nd Century Group acquired all of the membership interests of NASCO Products, LLC, a North Carolina-based federally licensed tobacco product manufacturer and a participating member of the U.S. tobacco Master Settlement Agreement (MSA) since 2005, from sole member Ralph Angiuoli. $250,000 cash plus 640,000 unregistered shares of 22nd Century common stock (subject to reduction for unpaid NASCO liabilities).
22nd Century Group acquired substantially all of the assets of GVB Biopharma, a hemp-derived cannabinoid contract development and manufacturing organization (CDMO) believed to be one of the largest global suppliers of hemp-derived active ingredients by tonnage, covering extraction, refinement, conversion, product formulation and API supply. Assumption of ~$4.5M of debt + ~$1.9M of GVB transaction costs + issuance of 32,900,000 unregistered shares of 22nd Century common stock (subject to lock-up).
GVB represents a transformational acquisition for 22nd Century that will enable us to rapidly grow our hemp/cannabis franchise. GVB is one of the largest CBD suppliers globally, possessing innovative, vertically integrated cannabinoid product manufacturing technologies driving industry leading scale and cost efficiency.James A. Mish — Chief Executive Officer of 22nd Century Group
We are excited to combine with 22nd Century group, pairing our production and manufacturing capabilities together with the best hemp/cannabis plant science in the world.Phillip Swindells — Chief Executive Officer of GVB
On January 19, 2023, 22nd Century Group acquired RX Pharmatech Ltd, a privately held United Kingdom distributor of cannabinoids with 1,276 novel food applications registered with the U.K. Food Standards Agency; products include CBD isolate and finished products such as gummies, oils, drops, tinctures, sprays and capsules. $2.1 million total fair value of aggregate consideration ($200 thousand cash, $503 thousand in stock, $286 thousand working-capital true-up, and $1.138 million initial fair value of contingent consideration, with additional equity payments of up to $1.55 million over three years).