Cannabis Company Ayr Said to Buy THC-Drink Maker Cultivauna

Ayr Wellness Inc., a multistate cannabis company, plans to buy Cultivauna LLC, a maker of cannabis-infused seltzers and water-soluble tinctures, according to a person familiar with the company’s plans.

The transaction would give Ayr, which already sells cannabis in six states, access to a fast-growing segment of the industry: drinks that contain the psychoactive ingredient in marijuana, known as THC. It would also expand the customer base for Cultivauna’s Levia brand, currently sold in Massachusetts.

The purchase would be for 100% of the equity interests in Cultivauna, including $10 million in cash and another $10 million in stock up ...