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Green Thumb Industries Sells Brands to Agrify, Extends $45 Million Loan
ByAinvest
Wednesday, Aug 27, 2025 4:17 pm ET1min read
Green Thumb Industries has sold certain consumer packaged goods brands to Agrify Corporation for $50 million in cash. The transaction includes a license agreement allowing Green Thumb to continue manufacturing and distributing the brands. Green Thumb has also extended a $45 million loan to Agrify. The brands include RYTHM, Beboe, Dogwalkers, Doctor Solomon's, &Shine, and Good Green.
Green Thumb Industries Inc. (GTII, OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, has announced a significant transaction involving the sale of certain consumer packaged goods brands to Agrify Corporation (AGFY, Nasdaq). The company sold its brand portfolio, including RYTHM, Beboe, Dogwalkers, Doctor Solomon's, &Shine, and Good Green, for $50 million in cash through its subsidiary VCP23, LLC [1].In addition to the sale, Green Thumb secured a license agreement with Agrify to continue manufacturing and distributing these brands. Simultaneously, the company extended a $45 million secured convertible note to Agrify, maturing February 25, 2027, with a 10% annual interest rate. The note is convertible to Agrify common stock or Pre-Funded Warrants at $29.475 per share [1].
Notably, Green Thumb owns 35% of Agrify's outstanding shares, and Benjamin Kovler serves as Chairman and CEO of Green Thumb while also acting as Chairman and Interim CEO of Agrify [1].
Green Thumb Industries Inc. is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of branded products and owns and operates RISE Dispensaries, a rapidly growing national retail cannabis chain. The company serves millions of patients and customers each year with a mission to promote well-being through the power of cannabis while giving back to the communities it serves [2].
References:
[1] https://www.stocktitan.net/news/GTBIF/green-thumb-industries-announces-brand-transactions-with-i2fmbytbp96y.html
[2] https://www.globenewswire.com/news-release/2025/08/27/3140381/0/en/Green-Thumb-Industries-Announces-Brand-Transactions-with-Agrify.html
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