Flora Growth Corp. Closes Acquisition of Australian Vaporizers

Core Insights - Flora Growth Corp. has entered into a share purchase agreement to acquire Australian Vaporizers Pty Limited for 550,000 common shares valued at $0.7 million, with the transaction closing on June 4, 2024 [1] Company Overview - Australian Vaporizers, founded in 2010, is one of the largest online retailers of vaporizers and accessories in Australia, specializing in dry herb vaporizers and serving over 30,000 active customers [2] - The company has sold over 92,000 units through both business-to-business and direct-to-consumer channels [2] Strategic Implications - The acquisition is expected to improve Flora's bottom line and create synergies with its existing portfolio, particularly by selling Vessel Brand products in Australia, which is noted as Flora's fastest-growing segment [3]