Supreme Cannabis announced it will acquire Blissco Cannabis, a premium wellness cannabis brand and production facility based in Langley, BC – a deal valued at $48 million.
Blissco was founded by Damian Kettlewell, former Partner and Director of External Affairs for JAK’s Beer Wine and Spirits in BC.
Supreme first invested $3 million in Blissco in February 2018, giving the company a 10% ownership stake. Under this new acquisition, Supreme receives all outstanding stocks. Blissco joins Supreme’s portfolio of other premium brands, including 7ACRES and Khalifa Kush Enterprises, as the company seeks to grow its ‘health and wellness’ business.
Kettlewell says, “Supreme Cannabis is the best positioned company in the cannabis space to help Blissco achieve its ambition of delivering innovative, quality assured full-spectrum cannabis products to the world […] Blissco shareholders will also benefit from Supreme Cannabis’ enhanced trading liquidity on the TSX and greater access to capital that will allow us to focus and accelerate Blissco’s premium wellness business.”
Navdeep Dhaliwal, CEO of Supreme Cannabis, adds, “Blissco has built a distinct and authentic premium wellness brand […] This transaction will allow Blissco to focus its business around the production and commercialization of cannabis oils and topicals for the premium wellness consumer.”
Kettlewell will remain as Blissco CEO and has committed to remaining employed at Supreme for a minimum of two years.