Cronos Group to acquire four operating subsidiaries of Redwood Holding for $300m.

Cronos Group, an innovative global cannabinoid company, agreed to acquire four operating subsidiaries of Redwood Holding for $300m. Redwood manufactures, markets and distributes hemp-derived cannabidiol infused skincare and other consumer products online and through retail and hospitality partner channels in the United States under the brand, Lord Jones. “Rob and Cindy have built a differentiated, best-in-class platform with hemp-based CBD formulations that stand for quality and consistency. Our goal is to preserve the integrity of all Rob and Cindy have created, while also learning from them and leveraging Cronos Group’s resources to capitalize on the significant demand for skincare and other consumer products derived from hemp. Leading the industry forward responsibly and being a part of the conversation with industry stakeholders remains a top priority for Cronos Group in this evolving area,” Mike Gorenstein, Cronos Group Chairman, President and Chief Executive Officer.