Florida-based hemp and CBD distribution company cDistro has been acquired by the Marijuana Company of America, a diversified cannabis holding company based in Los Angeles.
The merger-acquisition, completed Wednesday, was a stock-for-stock deal that will expand MCOA’s distribution throughout North America, the company’s CEO, Jesus Quintero, said in a statement.
According to terms of the deal, all issued and outstanding shares of cDistro common stock were exchanged for MCOA common stock.
cDistro, which will be operated as a wholly owned subsidiary of MCOA, distributes a number of CBD brands and smoke and vape shop products to wholesalers, convenience stores, specialty retailers and dispensaries in North America.
The merger is “highly synergistic” and MCOA’s operational support will “amplify” cDistro’s hemp and CBD distribution business in the North American market, said cDistro CEO Ron Russo.
The Marijuana Company of America shares trade on the over-the-counter markets as MCOA.
