California-based cannabis company Indus Holdings has acquired 70% of issued and outstanding shares in Shredibles, in exchange for its subordinate voting shares.

Shredibles is engaged in the production of protein bars infused with CBD oil, made from all-natural, vegan-friendly ingredients.

The company noted that individual bars contain 20mg of CBD. These bars are available in White Chocolate Macadamia, Peanut Butter Crunch and Dark Chocolate Blueberry Almond flavours.

Indus Holdings co-founder and CEO Robert Weakley said: “The CBD market is one of the fastest-growing segments of our industry because of people like Matt and Roddy, who have shown what’s possible when it is applied for health and wellness purposes.

“This acquisition will allow us to expand our CBD footprint, opening doors nationwide and helping us reach millions of new consumers. We’re proud to work with leaders who believe in expanding possibilities, and this acquisition has the potential to be a game-changing partnership for all of us.”

For this deal, Indus has agreed to pay $240,000, based on the closing price of the company’s subordinate voting shares on 11 June.

In addition to the traditional CBD-based retail market, Shredibles’ bars are currently available in selec gyms, yoga studios and health stores.

Since its inception in 2014, Indus Holdings has been expanding its product offerings with the addition of CBD-based brands to its portfolio, which includes Original Pot, Moon, Orchid Essentials, Humble Flowers and Dixie Elixirs and Edibles.