SALINAS, Calif. – PRESS RELEASE – California cannabis company Indus Holdings, Inc. has announced that it has acquired 70-percent of the issued and outstanding shares of Shredibles LLC in exchange for subordinate voting shares of Indus Holdings, Inc. The total transaction is valued at $240,000, based on the closing price of the company’s subordinate voting shares on June 11, 2019.
Shredibles, one of the first protein bars to infuse CBD oil with all-natural, vegan-friendly ingredients, are a handmade, healthy, post-workout alternative. Individual bars are infused with 20mg of CBD and are available in White Chocolate Macadamia, Peanut Butter Crunch and Dark Chocolate Blueberry Almond flavors.
Shredibles bars are popular beyond the traditional CBD-based retail market and are currently available in select gyms, yoga studios, grocery and health stores. Additionally, several notable athletes and artists have begun partnering with Shredibles through sponsorship and brand ambassador relationships.
“Our goal has long been to create a healthy recovery snack that pushes the boundaries of what’s possible with CBD,” explains Co-Founder and Chief Executive Officer Roddy Hanson.
“We felt an instant synergy after our first meeting with the Indus team, and the partnership will allow us to realize our vision for Shredibles,” adds Matt Callans, co-founder and chief operating officer.
Since its founding in 2014, Indus Holdings, Inc. has been expanding its product offerings, adding CBD-based health and beauty brands to its portfolio of owned and licensed products, which includes Original Pot Co., MOON, Orchid Essentials, Humble Flowers Co., and Dixie Elixirs and Edibles.
“The CBD market is one of the fastest-growing segments of our industry because of people like Matt and Roddy, who have shown what’s possible when it is applied for health and wellness purposes,” says Indus Holdings, Inc. Co-Founder and Chief Executive Officer Robert Weakley. “This acquisition will allow us to expand our CBD footprint, opening doors nationwide and helping us reach millions of new consumers.
We’re proud to work with leaders who believe in expanding possibilities, and this acquisition has the potential to be a game-changing partnership for all of us."