Green Hygienics inks LOI for acquisition of Bohemian Beverage

Apr. 23, 2021 9:17 AM ETGreen Hygienics Holdings Inc. (GRYN)GRYNBy: Akanksha Bakshi, SA News Editor
  • Green Hygienics (OTCPK:GRYN) has entered into a letter of intent to acquire Bohemian Beverage Co. and, currently, the stakeholders are working on the definitive agreement.
  • Bohemian Beverage Co. is a profitable, revenue-generating entity with a brand portfolio of more than 20 beverage brands, including CBD-infused teas, kombuchas, beers, ciders, ready-to-drink cocktails and more, which are directly distributed and sold through the company’s own subsidiary storefront. The current demand for Bohemian Beverage Co. products is outpacing the current production capabilities.
  • As part of this transaction, Green Hygienics will invest in the construction of a larger bottling facility, “The Grove Brewery,” that is combined with a farmers’ market on a 5-acre land parcel ideally situated on Portsmouth Boulevard in Chesapeake, Virginia.
  • “The beverage sector is very competitive and there is a steep learning curve. This strategic acquisition will allow us to enter the CBD-infused drink market supported by expertise and existing distribution while mitigating risk and, more significantly, will bring immediate revenue and hard assets to our financials,” commented Ron Loudoun, CEO of Green Hygienics.

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