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22nd Century Group acquires a UK cannabinoid distributor for $650K

US-based 22nd Century Group has acquired privately held UK cannabinoid distributor RX Pharmatech (RXP) for an up-front payment of $650,000 in cash and stock and a three-year equity earn-out based on revenue milestones.

A 22nd Century spokesperson told CannIntelligence that this agreement between global-scale speciality ingredient supplier GVB Biopharma and the UK cannabis distributor aims to expand the company’s access to the European market, particularly with the novel foods applications RXP has secured.

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Antonia Di Lorenzo

Assistant news editor
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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