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Agrify Corporation completes acquisition of Señorita brand of hemp-derived THC drinks

Dec 16, 2024•12 months ago

Acquiring Company

Agrify Corporation

Acquired Company

Double or Nothing (Señorita)

BillericaBalochistanFood and Beverage

Description

Agrify Corporation, a leading provider of branded innovative solutions for the cannabis and hemp industries, has closed on its acquisition of certain assets from Double or Nothing LLC, the owner and creator of the Señorita brand of hemp-derived THC drinks. This strategic acquisition aims to capitalize on the fast-growing, exciting beverage category and expand Agrify's product portfolio with award-winning THC drinks while focusing on maximizing shareholder value creation.

Company Information

Company

Agrify Corporation

Location

Billerica, Massachusetts, United States

About

Agrify (Nasdaq: AGFY) Agrify is a leading provider of innovative cultivation and extraction solutions for the cannabis industry, bringing data, science, and technology to the forefront of the market. Our proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable cultivators to produce the highest quality products with unmatched consistency, yield, and ROI at scale. Our comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit Agrify at http://www.agrify.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed