Neptune Wellness Solutions (NASDAQ:NEPT,TSX:NEPT) announced Wednesday (July 24) that it has completed the acquisition of the assets of SugarLeaf Labs.
As quoted in the press release:
“The acquisition of SugarLeaf, combined with Neptune allows us to create a leading North American extraction platform with significant capacity available to serve our customers on both sides of the border. Furthermore, considering the significant growth anticipated in hemp-based products, this acquisition provides Neptune with capabilities to satisfy a wide array of clients. Finally, we anticipate a significant contribution from this acquisition, as indicated by the large earnout structure providing adequate risk sharing,” said Michael Cammarata, Neptune President and CEO.