Mary’s Brands bought by Connecticut cannabis firm; CEO steps down

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Mary’s Brands bought by Connecticut cannabis firm; CEO steps down

UNITED STATES, August 29, 2019 (HEMP INDUSTRY DAILY)- Connecticut-based BR Brands, which owns and distributes a range of marijuana and hemp products, acquired Mary’s Brands, the Colorado maker of a cannabis skin patch.

Terms of the acquisition were not made public.

After the deal closed, Mary’s Brands CEO Lynn Honderd stepped down as CEO but remains an adviser.

Mary’s Brands include:

  • Mary’s Medicinals, a line of THC products.
  • Mary’s Nutritionals, a line of hemp-derived CBD products.
  • Mary’s Whole Pet, a line of hemp-derived CBD products.

Based in Greenwich, Connecticut, BR Brands also announced it has raised $60 million in a Series A capital raise backed by its strategic capital partner, Rose Capital.

BR Brands also announced investments in companies making THC-infused chocolates and beverages.