Florida private equity house Boyne Capital has agreed to buy A&A Global Imports, a supplier of packaging materials and ancillary products to the high-growth medical and recreational cannabis industry.
The company sells child-resistant, government-regulated packaging to cannabis cultivators, processors, and dispensaries, as well as pharmacies and retail shops.
Boyne Managing Partner and CEO Derek McDowell said, “A&A maintains a uniquely strong market position, having trailblazed the cannabis ancillary space over a decade ago.
“Meeting the A&A team and understanding their growth trajectory and loyal customer base gave us much confidence in the partnership.”
Boyne said it tapped its sophomore investment vehicle, BCM Fund II, for the deal.
It closed its debut fund in 2017 on $126m, beating its initial $100m target.
The firm targets lower middle market companies with revenues of less than $100m and EBITDA of $3m to $15m.
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