Yooma Wellness, an emerging marketer and distributor of cannabinoid and hemp-derived wellness products, acquired the wellness brand portfolio of EMMAC Life Sciences Group.

WHO: EMMAC Life Sciences is the European medical cannabis company working to join together the latest science and research with cutting-edge cultivation, extraction, and production. With supply and distribution partnerships throughout Europe, EMMAC is working to establish itself as both a thought leader in the industry, as well as the European leader in the production and supply of medical cannabis, hemp, and other derivative products. The company’s wellness brand portfolio includes Blossom premium-quality skincare and wellness products, MYO Plant Nutrition, the producer of performance-enhancing nutritional supplements, and What the Hemp and Hello Joya plant-based protein snacks.

WHY: The acquisition expands Yooma’s portfolio of hemp and CBD brands with the addition of Blossom premium-quality skincare and wellness products.

IN THEIR OWN WORDS: “This deal presents an opportunity for Yooma to capitalize on the massive growth in the European market, particularly in the U.K., where MYO Plant Nutrition’s supplements are gaining tremendous traction with some national retailers,” said Ron Wardle, co-CEO of Yooma. “We also intend to continue our focus on China and rebrand Blossom, with plans to launch in certain Asian markets later this year.”

DETAILS:

• Yooma Wellness Inc. acquired the wellness brands of EMMAC Life Sciences Group, including Blossom, MYO, Hello Joya, and What the Hemp.
• The total purchase price is approximately $8.1 million, and will be payable as 7,459,981 shares of Yooma.
• The agreement will see Yooma expand beyond Asia into the European CBD market.
• Yooma intends to continue cross-selling EMMAC wellness brands through its sales channels in China as announced in a deal last week.
• Yooma previously licensed these brands from EMMAC under the terms of an agreement announced on January 20, 2021.