Jones Soda, the quirky beverage company that made its name through hyper-personalized labeling, is being acquired by a Canadian firm that will take its name.
Simply Better Brands has issued a letter of intent to acquire Jones for $98.9 million U.S. The goal is to reach a definitive agreement by June.
Simply Better describes itself as “an international omni-channel platform...in the emerging plant-based and holistic wellness consumer product categories.” It markets CBD-infused ingestibles and personal-care products, as well as a line of energy bars. Jones Soda announced last month that it would be moving into cannabis-infused beverages and edibles with a product line called Mary Jones.
Once the transaction is complete, Simply Better will change its name to Jones Soda “or some derivation thereof,” possibly with a new trading symbol for the Canadian Securities Exchange.
“We see joining forces with Jones as an incredible fit due to a common wellness mission, consumer cohort, and leadership approach,” Simply Better CEO Kathy Casey said in a statement announcing the transaction.