Elixinol Wellness Limited entered into conditional agreement to acquire hemp food and animal products business of Ananda Food Pty Ltd from Ananda Food Pty Ltd for $3 million.

Elixinol Wellness Limited (ASX:EXL) entered into conditional agreement to acquire hemp food and animal products business of Ananda Food Pty Ltd from Ananda Food Pty Ltd for $3 million on February 12, 2024. The consideration consist of $2 million cash and $1 million earnout subject to the value of cat litter product sales between April 1, 2024 and June 30, 2025. The transaction is subject to various conditions including receipt of 3rd party consents and completion of EXL?s fully underwritten rights issue.

The transaction is expected to close in late of March 2024.