The acquisition gives Civilized access to a company focusing on news and events in the marijuana industry
Civilized, a media brand based in California and New Brunswick, Canada that focuses on cannabis culture, has announced that it is acquiring Business of Cannabis. Business of Cannabis is a platform that provides news, events and analysis related to the cannabis industry and the merger will give Civilized additional marketing streams and “create new efficiencies in content creation and delivery,” according to a press release.
Derek Riedle, the publisher for Civilized, asserts, “The team at Business of Cannabis has really shed a light on the leadership and sophistication of the business side of the Canadian cannabis industry. They have become influential thought leaders in our common goal of eliminating stigma by sharing news stories that more accurately reflect the reality of today’s cannabis culture. They are great people and good friends. We are excited to bring them into our expanding portfolio as we strengthen our position as a leading source for cannabis news, stories and information.”
The acquisition is expected to be complete before the end of the year, contingent upon a full due diligence review. Once finalized, the operations of the new company will be led out of Toronto, Business of Cannabis’s current headquarters.
Business of Cannabis President Jay Rosenthal adds of the acquisition, “In this industry, depth and reach are the pillars that separate the leaders from the followers, and this acquisition delivers that in spades. With Civilized, we can build on our strong leadership position and leverage their expert content and events team to give our audience a more robust, compelling and holistic offering.”
Civilized is looking to be a major player in the cannabis industry. In addition to the acquisition of Business of Cannabis, it also recently announced that it would acquire The 420 Games, an event company that combines cannabis with athleticism.