New York wellness holding company Onassis Holding Corp. has bought a CBD maker in Slovenia for $6 million in stock.
Onassis’ acquisition of MGC Nutraceuticals in Ljubljiana, Slovenia, gives the company a foothold to distribute CBD derived from Slovenian-grown hemp across Europe.
The company formerly belonged to MGC Pharmaceutics, which makes medical marijuana.
Under the agreement, MGC Pharma will receive $6 million in shares of Onassis Holdings’ common stock.
Onassis trades on over-the-counter markets as ONSS. MGC Pharmaceuticals trades on the Australian Stock Exchange as MXC.
