ACQUISITION COMPLETION May 26, 2021 / Marijuana Company of America, Inc. a diversified holding company with operations and investments throughout the cannabis industry, today announced it has completed the acquisition of cDistro, LLC (“cDistro”). The distribution company cDistro is one of the hemp industry’s fastest growing distribution companies and is expected to deepen the Company’s distribution presence in North America
Founded in the summer of 2020, cDistro offers the CBD brands along with smoke and vape shop related products to wholesalers, c-stores, specialty retailers, and dispensaries in North America.
cDistro has seen rapid growth since its inception accumulating a catalog of eight product lines currently being sold to over 250 customers.
Currently cDistro currently generates approximately $150,000 per-month in gross revenues with generous margins, which will be included in MCOA’s consolidated financial statements.
cDistro will add MCOA’s hempsmart™ products to its portfolio of premium brands.
Pursuant to the terms and conditions of the merger transaction, all of the membership interests of cDistro were exchanged for shares of common stock of MCOA, resulting in cDistro becoming a wholly owned subsidiary of MCOA.
“cDistro is uniquely positioned to take advantage of the developing market opportunity generated by consumers’ growing demand for quality hemp products. This acquisition is significant for MCOA, as it further positions us to take advantage of immediate revenue and a huge opportunity to establish significant market share in the specialty distribution space”, said Jesus M. Quintero, CEO of MCOA.
Ronald Russo, President of cDistro stated, “This acquisition is highly synergistic and will bring our national distribution to the next level. We anticipate that with funding, we could quickly become one of the largest distributors of products infused with CBD and hemp in North America. In a short period of time, cDistro has built strong relationships with quality wholesalers, retailers, and dispensaries and we look forward expanding our business with the assistance of MCOA and their mutually shared desire to bring innovative products to market.”
About cDistro
The company, cDistro (Retail Service / Wholesale Prices) distributes the best CBD brands, along with smoke and vape shop related products to wholesalers, c-stores, specialty retailers, and consumers in North America.
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