HempFusion Wellness inks deal to buy CBD brand leader Sagely Naturals
Sagely Naturals generated net revenue of over US$4.19 million in 2020, and will boost HempFusion’s retail distribution by an additional 14,000 plus stores HempFusion has agreed to pay an initial sum of US$25 million, consisting of US$2 million in cash plus US$23 million in HempFusion stock
HempFusion Wellness Inc (TSE:CBD.U) (OTCQX:CBDHF) (FRA:8OO) announced it has signed a definitive agreement to acquire Sagely Enterprises, Inc, trading as Sagely Naturals, a provider of premium CBD products for women.
The company said Sagely Naturals generated net revenue of over US$4.19 million in 2020, and will boost HempFusion’s retail distribution by an additional 14,000 plus stores.
HempFusion To Buy CBD Brand Sagely Naturals For $25M HempFusion Wellness Inc. (TSX:CBD) (OTC:CBDHF) announced Monday it will buy CBD brand
Sagely Naturals in a $25 million stock and cash deal.
Sagely Naturals is one of the largest female-founded CBD wellness brands. Launched in 2015, it has since worked its way up and onto the shelves of popular retailers such as CVS, Rite Aid (NYSE:RAD), Sprouts Farmers Market (NASDAQ:SFM), Nordstrom (NYSE:JWN), among others.
Sagely is said to be number one in CBD topicals with a 23% market share in the pharmacy channel and 13.8% market share in the multiple-outlet channel, based on IRI data. Furthermore, celebrities like Cameron Diaz, Zoe Saldana and Molly Sims are known as consumers and investors in the brand.