Diego Pellicer Worldwide has signed a definitive agreement to acquire Hemp Choice Distribution, LLC, a leading provider of full spectrum hemp and CBD. The $4.4 million dollar cash and stock deal includes an initial payment of $250,000 to the owners of Hemp Choice with the balance paid in common and preferred stock. DPWW management anticipates the transaction to close within three months.
“With the acquisition of Hemp Choice, Diego Pellicer Worldwide is advancing the company’s long-term business goals. We’re expanding into a rapidly growing product category,” said Nello Gonfiantini III, Chief Executive Officer, Diego Pellicer Worldwide, Inc. “Hemp Choice is a premium provider of hemp and CBD. We welcome them as a wholly owned subsidiary.”
Hemp Choice is a distributor and provider of CBD and hemp. The company works with growers, processors, manufacturers and retailers to provide hemp and CBD for use in a wide variety of commercial and industrial products. CBD and other cannabinoids such as CBG, CBC and CBDA in oil and water soluble form, are nonpsychoactive.
“I look forward to working with Diego as we expand business opportunities in the cannabis space of hemp and CBD – one of the fastest growing segments in this marketplace,” said Gabriela Vergara, CEO and founder, Hemp Choice Distribution, LLC.