The founders will stay on board.
LOS ANGELES — Cannabis Strategic Ventures Inc. is acquiring The Asher House Pet CBD brand from The Asher House LLC.
In the agreement, Cannabis Strategic Ventures will acquire controlling interest in the Asher House Pet CBD line, a line of U.S. hemp derived cannabidiol (CBD) supplements for pets.
Financial terms of the deal were not disclosed.
“Through the Asher House acquisition, Cannabis Strategic continues to expand its already diverse portfolio of Cannabis focus brands and service offerings,” said Simon Yu, CEO of Cannabis Strategic. “At Cannabis Strategic, we believe that investing in people is as important as investing in industry-leading products and technologies.
“Lee and Luke’s passion for pet adoption and pet wellness is one of the key ingredients to Asher House’s national recognition. We welcome Lee Asher and Luke Barton, the founders of Asher House, to the NUGS family.”
The deal calls for Asher House to continue promoting the Asher House CBD brand nationwide while Cannabis Strategic provides the infrastructure to support enhanced marketing programs and the expected increases in product sales.
“This company is our life calling and is about much more than simply profits,” Lee Asher said. “Our goal is to grow a healthy business while we promote pet health, safety and rescue. We have introduced our products to thousands of pet owners throughout the United States. This is an important effort for us, and we are very happy to have Cannabis Strategic as a partner that shares our ethics and goals.”