cbdMD Acquires Bluebird Botanicals

*CHARLOTTE, N.C.* — cbdMD Inc. acquired substantially all the assets of
Bluebird Botanicals in an all-stock transaction. Bluebird, founded in 2012,
is among the longest-standing brands in the CBD space.

Previously, Bluebird attracted backing from Juggernaut Capital Partners, a
middle-market private equity firm focused on consumer and healthcare
investments.

cbdMD expects the all-equity purchase to strengthen its balance sheet by
incorporating operational efficiencies through consolidated supply chain,
manufacturing, and shared services. In addition, a broader product line and
cross-brand distribution opportunities are expected to accelerate revenue
growth across both direct-to-consumer and retail channels.

The transaction also included a portfolio of intellectual property
including patented-process technologies and regulatory compliance
documentation.