SEATTLE, WA--(Marketwired - Mar 22, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing Laguna Blends Inc.'s (CSE: LAG) (OTC PINK: LAGBF) plans to acquire a leading global cannabis firm and grow into a leader in the space.
The hemp-derived cannabidiol ("CBD") market has been growing at a rapid pace over the past few years. The Hemp Business Journal estimates that consumer CBD sales will soar more than 700% to $2.1 billion by 2020. Greenwave Advisors is even more optimistic about the growth in the CBD market, with Founder Matt Karnes telling Forbes that it could reach $3 billion by 2021 -- a significant growth rate and market for emerging companies.
Laguna Blends aims to become a market leader in the distribution of hemp and CBD products by acquiring and incubating companies in the space. Recently, the company announced that it signed a letter of intent to acquire a leading cannabis firm with unaudited annual sales of $12 million and adjusted EBITDA of $1,588,000. The transaction would occur for cash and stock consideration totaling $12.5 million, making it an attractive acquisition for shareholders.
In addition to its acquisition strategy, the company owns and operates a business-to-business network of affiliates and an online marketplace lagunablends.com to extend distribution. Currently, the company sells a complete line of CBD-infused skincare products through its Cannaceuticals website at www.cbdskincream.com. These products target everything from exfoliation to anti-aging and harness the power of CBDs and other cutting-edge compounds.
The potential acquisition of a revenue-generating firm in the space could provide the financial leverage to accelerate the company's acquisition strategy over the coming quarters as well as bolster its other internal efforts. At the same time, the company's online marketplace and affiliate network could open the door to significant synergies between acquired companies and generate significant long-term revenue for shareholders.
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