SALINAS, Calif. – California cannabis leader Indus Holdings, Inc. (“Indus”) (CSE:INDS) today announced that it has acquired 70% of the issued and outstanding shares of Shredibles LLC (“Shredibles”) in exchange for subordinate voting shares of Indus Holdings, Inc. The total transaction is valued at $240,000, based on the closing price of the Company’s subordinate voting shares on June 11, 2019.
Shredibles, one of the first protein bars to infuse CBD oil with all-natural, vegan-friendly ingredients, are a handmade, healthy, post-workout alternative. Individual bars are infused with 20mg of CBD and are available in White Chocolate Macadamia, Peanut Butter Crunch, and Dark Chocolate Blueberry Almond flavors.
Shredibles bars are popular beyond the traditional CBD-based retail market and are currently available in select gyms, yoga studios, grocery, and health stores. Additionally, several notable athletes and artists have begun partnering with Shredibles through sponsorship and brand ambassador relationships.
“Our goal has long been to create a healthy recovery snack that pushes the boundaries of what’s possible with CBD,” explains Co-Founder and Chief Executive Officer Roddy Hanson. “We felt an instant synergy after our first meeting with the Indus team, and the partnership will allow us to realize our vision for Shredibles,” adds Matt Callans, co-founder and chief operating officer.
Since its founding in 2014, Indus Holdings, Inc. has been expanding its product offerings, adding cutting-edge, CBD-based health and beauty brands to its portfolio of owned and licensed products, which includes Original Pot Co., MOON, Orchid Essentials, Humble Flowers Co., and Dixie Elixirs and Edibles.
“The CBD market is one of the fastest-growing segments of our industry because of people like Matt and Roddy, who have shown what’s possible when it is applied for health and wellness purposes,” says Indus Holdings, Inc. Co-Founder and Chief Executive Officer Robert Weakley. “This acquisition will allow us to expand our CBD footprint, opening doors nationwide and helping us reach millions of new consumers.
We’re proud to work with leaders who believe in expanding possibilities, and this acquisition has the potential to be a game-changing partnership for all of us.”
ABOUT INDUS HOLDINGS, INC.
Indus Holdings, Inc. (CSE:INDS) is a vertically-integrated cannabis company with advanced production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. Founded in 2014 by hospitality veteran Robert Weakley and based in Salinas, California, Indus offers services supporting every step of the supply chain and an extensive portfolio of award-winning brands, including House Weed, The Original Pot Co., MOON, Acme, Beboe, Dixie Elixirs & Edibles, and Orchid Essentials. Indus Distribution, a division of Indus Holdings, Inc., is a leading distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers.
ABOUT SHREDIBLES
Shredibles is a line of handmade CBD infused all-natural and vegan-friendly protein bars. Created by longtime friends Matt Callans and Roddy Hanson, Shredibles combines vegan nutrition with broad spectrum, hemp-derived CBD oil – fully embracing the healing properties of the cannabis plant to create a healthy, great tasting post-workout snack. Available throughout the United States and endorsed by numerous athletes and artists, Shredibles represents a bold new approach to recovery. Shredibles products are available for purchase in-store and online. More information can be found at shrediblescbd.com.