Little Green Pharma (ASX:LGP) has completed the acquisition of HHI, the owner of the Health House medicinal cannabis distribution business.
Little Green Pharma is a global, vertically integrated and geographically diverse medicinal cannabis and psychedelics business with operations from cultivation and production through to manufacturing, distribution and clinical services.
CEO Paul Long said, “We are delighted to complete the acquisition of Health House, a long-term distribution partner of LGP. This transaction aligns with our vertical integration and acquisition strategy and secures us a great business with a proven track record.
"Most importantly, we look forward to welcoming the talented Health House team into LGP and working together to ensure a seamless transition. Their expertise and industry relationships will be invaluable as we continue to grow our business in an evolving market.”
As part of the acquisition, LGP has made the first payment of $171,000 towards the estimated $300,000 cash consideration, with the balance amount to be paid in 40 days following the determination of Health House’s 31 January 2025 working capital position.