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Veritas Farms Acquires Asystem And Asystem Labs As Part Of Growth Strategy To Build The Next Generation Of Innovative Wellness Brands

Aug 28, 2023over 2 years ago

Acquiring Company

Veritas Farms, Inc.

Acquired Company

Asystem, Inc.

Fort LauderdaleVeniceVeniceHealth CareNutritionE CommerceDietary SupplementsHealth CareNutritionE CommerceDietary SupplementsHealth Care

Description

via NewMediaWire -- Veritas Farms, Inc. (OTCQB: VFRM), a leading wellness brand within the hemp/CBD space, has announced today that it has completed the acquisition of innovative, science-forward supplements brand ASYSTEM and their product development arm, ASYSTEM Labs.

Company Information

Company

Veritas Farms, Inc.

Location

1512 E. BROWARD BLVD

Fort Lauderdale, Florida, United States

About

Veritas Farms, Inc. (OTCQB: VFRM) is a Hemp/CBD company on a mission to help pets and people combat stress, difficulty sleeping, and tension relief through the use of cannabinoids and functional ingredients such as l-theanine, cordyceps, reishi, chamomile, and more. Their current assortment focuses on relaxing products for pets and relaxing, sleep, tension, energy, and immunity products for people, with assortments available on TheVeritasFarms.com and mass retailers such as Bi-Mart, Publix, Emerson Healthcare, and Kroger. Recently, Veritas has decided to pursue a roll-up strategy and expand beyond CBD and into the multi-billion dollar wellness industry by acquiring and merging brands with a wellness focus under the publicly traded companies umbrella.

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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