Neptune announces closure of SugarLeaf acquisition

handshakeNeptune Wellness Solutions Inc, an a provider of extraction, formulation and turnkey packaging solutions, has completed the acquisition of the assets of SugarLeaf Labs, LLC and Forest Remedies LLC (collectively, “SugarLeaf”).

Michael Cammarata, Neptune President and CEO said: “The acquisition of SugarLeaf, combined with Neptune allows us to create a leading North American extraction platform with significant capacity available to serve our customers on both sides of the border. Furthermore, considering the significant growth anticipated in hemp-based products, this acquisition provides Neptune with capabilities to satisfy a wide array of clients. Finally, we anticipate a significant contribution from this acquisition, as indicated by the large earnout structure providing adequate risk sharing.”

Peter Galloway, President of SugarLeaf said: “We are extremely proud to be part of the Neptune family and look forward to working in collaboration with their entire team. The hemp extract opportunity is significant, and our sales pipeline is healthy giving us comfort that we are well-positioned to execute on our business plan.”