Memery Crystal has advised Vitality CBD on its GBP10.2m acquisition by CSE/AQSE-listed Yooma Wellness via the company’s wholly owned subsidiary, Yooma Europe Limited.
Vitality is a market-leader in CBD products in the UK, and its presence at mainstream retail outlets such as Boots, Lloyds Pharmacy, Tesco and ASDA means that this acquisition adds a significant source of recurring revenue to Yooma and its subsidiaries.
Yooma Wellness are a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands. The acquisition of Birmingham-based Vitality also expands Yooma’s target customer base and distribution network for its existing European-focused brands, including the MYO plant nutrition platform.
The Memery Crystal team on this transaction was led by our chair and senior corporate partner Lesley Gregory, and also included senior associates Melanie Belford and Mark Rose, solicitor Kasia Reda and trainee Liam Hill.
Gregory says: “This (acquisition) positions Vitality nicely to be able to continue to grow the business and it was a pleasure to work with their team on this significant transaction in the growing CBD industry. This is the third cannabis sector transatlantic M&A deal we have advised on this year following Curaleaf’s acquisition of EMMAC Life Sciences, and GenCanna’s acquisition of Taylor Mammon. We are proud to be at the forefront of transactions, both on the listings side as well as on mergers & acquisitions and look forward to continuing to assist clients in this niche sector.”
Nikhil Nathwani, Managing Director of Vitality CBD, says: “The team at Memery Crystal have been fantastic throughout the process of our acquisition. Their guidance and professionalism ensured that all aspects of the deal went smoothly. Their expertise and experience in dealing within our industry was an advantage, as they already had good knowledge and understanding of many aspects of our business.”
