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Sunderstorm Acquires Nevada'S Abide Brands

Jun 08, 2023•over 2 years ago

Acquiring Company

Sunderstorm

Acquired Company

Abide Brands

Food And BeverageFood And BeverageRetailFashionE Commerce

Description

Sunderstorm, an award-winning company in the consumer cannabis space, has acquired Nevada-based Abide Brands, maker of Bounti Vapes. The acquisition allows Sunderstorm to add valuable team members and a new product category to its Nevada portfolio. This is the first acquisition for the California-based company, and it marks the start of a new phase of growth that will include expanding its categories nationally.

Company Information

Company

Sunderstorm

About

Sunderstorm is one of the largest and most trusted companies in the consumer cannabis space. Inspired by passion for science and plant medicine, Sunderstorm prides itself on zero pesticides, all-natural ingredients and precision dosage that earned the Most Accurately Formulated Edible award at The Cannys. Sunderstorm's brands include KANHA, the fourth-largest U.S. edible brand, featuring the best-tasting flavors and a NANO series with the only proven fast-acting technology. Established in California in 2015, Sunderstorm serves California, Nevada, Massachusetts, Colorado and will enter the Asian market this year as one of the first U.S. brands in Thailand. The lifestyle-driven company strives to elevate the experiences that consumers love, from music and action sports to wellness and yoga, in pursuit of greater exploration.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed