Agrify buys GTI portfolio
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Agrify buys GTI brand portfolio
Agrify, a one-time AgTech company which went public on the Nasdaq in 2021, bought a portfolio of brands from leading MSO Green Thumb Industries(GTI) for $50M. This follows GTI’s November 2024 $20M financing of the company when GTI CEO Ben Kovler was named interim CEO of Agrify.
WSJ
The plan is to license the brands back to GTI which will continue to manufacture and distribute their products. It aims to grow through licensing revenue and expanding sales of hemp drinks.
The company, renamed Rythm, starts trading on the Nasdaq Tuesday under ticker RYM.
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