Dixie Brands was founded in Denver ten years ago. CNW Group/Dixie Brands, Inc.
Dixie Brands, one of Denver’s early marijuana-infused product brands, has agreed to an acquisition deal with a private equity firm that specializes in cannabis mergers.
According to a joint announcement from Dixie and BR Brands, a branch of Connecticut-based marijuana investment firm Rose Capital, the transaction is valued at over $43.2 million and is expected to be finished by the third quarter of 2020.
Dixie Brands was founded in 2010 as a medical marijuana company, then known as Dixie Elixirs, and was one of the first commercial manufacturers of THC-infused drinks in Colorado. Over the past ten years, the company branched out, making edibles, topicals, capsules and other infused products. Dixie was able to attain a spot in the Canadian stock exchange before partnering with AriZona Iced Tea for a licensing deal in 2019.
Rose Capital reportedly started investing in Dixie in 2018, just after then-Dixie CEO and co-founder Tripp Keber walked away from the company…for a role with BR Brands, where he was brought on to “identify potential companies for acquisition,” according to a 2018 Marijuana Business Daily article.
Founder & Interim Editor of L.A. Cannabis News