- Home healthcare services provider Scandia Inc SDNI has agreed to acquire a majority equity stake in Xtreme Organics Inc, a manufacturer and distributor of organic Cannabidiol (CBD) supplements.
- Scandia did not disclose the terms of the acquisition.
- The acquisition is aimed at Scandia’s growth in the Medicinal Chemicals and Botanical Products space.
- “We are looking forward to growing the business of Xtreme Organics and look forward to the next generation of organic hydration and energy products, as well as a new sports water that we feel will change the game in athletic performance,” said Jamie Allen, Chief Executive Officer.
- Jamie Allen was the founder and CEO of Xtreme Organics.
- Price action: SDNI shares closed higher by 25% at $1.95 on Wednesday.
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