Flora Growth Corp. (NASDAQ: FLGC) has expanded its portfolio, which spans a range of verticals and diverse revenue streams, with growth largely driven through mergers and acquisitions (“M&As”). With M&As defining its 2021 calendar year, Flora Growth capitalized on global trends, which saw over 63,000 worldwide M&A transactions completed across all industries and sectors as companies sought new avenues for growth amid the pandemic, rising inflation and disrupted supply chains. With two recent acquisitions, Flora Growth “was able to add an estimated $35 million in revenues and $7 million EBITDA. For comparison, back in 2020, the company’s acquisitions generated $28 million in revenue and $7 million in EBITDA,” a recent article reads. “Flora Growth has also raised about $35 million in capital and added several key executives, positioning itself for upcoming growth. It is projected that the overall global momentum for M&A activity will continue through the 2022 calendar year, and Flora Growth will be at the forefront of it all.”
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About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social media for more information.
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