One year after acquiring OneBode, American Green announced Monday that it had sold the company to the Healthy Home Company. The sale will allow American Green to focus on its core operations in the cannabis industry.
Tempe, Ariz.-based American Green (AG) develops marijuana cultivation and dispensing systems. Its products include the Dominator lighting system, Jurassic oxygenating water system, Veganic Special Sauce and ZaZZZ dispensing machine. The company is also involved in a test growing project with USEI in the Denver area.
Trying to follow the path of transactions that led to present-day American Green can be dizzying, given the frequent transactions it has been involved in. The company was formerly known as the Tranzbyte Corporation, which had purchased a previous incarnation of American Green.
In June 2013, Tranzbyte/AG purchased OneBode, another company in the Phoenix area, which offered nutritional supplements. It was founded in 2006 by Sean and Tylene Loomer who co-owned the company along with pro basketball player Steve Nash.
Tranzbyte was recently given approval by FINCEN to change its name to American Green, which has been publicly traded under the ticker symbol ERBB as an OTC stock for about a week.
St. Augustine, Fla.-based Healthy Home Company (HHC) sells supplements, cosmetics and home care products that it claims are less toxic and safer than their mainstream counterparts. HHC products can only be purchased online and require a membership. The company relies on word-of-mouth marketing to acquire customers and has a reward program for members who can get others to join.
With the cannabis market growing in Washington state and especially Colorado, it makes sense for AG to sell OneBode. Although profitable under AG during the past year, OneBode does not offer products with cannabis and therefore diverts AG’s resources from focusing in that area; its products are a much better fit for what HHC had been offering. From Steve Nash and the Loomers, to AG and finally HHC, the transaction should be win-win for all involved.
Edited by
Adam Brandt
