- CURE Pharmaceutical, from Oxnard, California, has purchased CBD beauty, wellness, and pet product manufacturer Sera Labs.
- The $20 million deal included the exchange of $19 million in CURE stock, $1 million in cash, and an additional $4 million to help grow Sera Labs.
- CURE anticipates to become cash-flow positive within 18 months of the deal closing, which is supposed to take place in early October.
Sera Labs, a CBD beauty, wellness, and pet product producer, has been bought by California-based CURE Pharmaceutical for a total of $20 million. CURE, who specializes in drug delivery and development, exchanged $19 million in stock, $1 million in cash, and an extra $4 million to support the growth of Sera Labs.
The deal is set to close early next month.
“The rest of 2020 will set the stage to make 2021 a breakout year for the Sera Labs wellness business as well as for CURE Pharmaceutical,” stated Rob Davidson, CEO of CURE Pharma.
CURE predicts that it will see a positive cash flow within 18 months of Sera taking over marketing and distribution of CURE’s dissolvable film health and wellness products. Their products are already being sold in thousands of smaller retailers along with several major national chains.
Founder and CEO of Sera Labs, Nancy Duitch, will maintain her role as CEO while also being appointed the role of chief strategic officer for the Wellness Division of CURE Pharma.
“With the consummation of the transaction, the Sera Labs’ team is excited to introduce consumers to CURE’s innovative delivery system, which we believe will change the way they take daily nutraceuticals,” Duitch stated.
Before long, both companies will begin to benefit from the transaction.
CURE Pharmaceutical trades as CURR on over-the-counter markets in the U.S.