Business Cann reports…
AN ambitious London-headquartered private-equity acquisition vehicle has debuted with the purchase of a US CBD firm – as it sets out its global ‘buy-and-build’ ambitions.
Tenacious Labs says the acquisition of Denver-based CBD brand Press Pause in a cash-and-shares deal sets it on the way to becoming a leading global consumer cannabinoid brand.
Further acquisitions will be announced in the ‘coming days’, says Tenacious and these will be supported by the impending launch of two UK CBD brands; Walker & Morland, and Hoo Raa.
Tenacious is headquartered in London with offices in Miami and Colorado and led by CEO Nicholas Morland and CCO Adrian Clarke.
The duo also head-up Delarki, a search fund aimed at early-stage and discretionary-spend businesses, targeting Gen Y millennials and the Gen Z student population.
Mr Clarke said: “This is a really important step in our strategy to become one of the world’s leading cannabinoid businesses operating an unrivalled portfolio of international brands.
“As consumer attitudes to cannabinoids change, we see enormous potential for value creation within the industry.”
Co-founded in 2018 by Dawn Fable, Press Pause creates premium CBD products for women’s wellbeing, including CBD balms, bath bombs, tinctures and full-spectrum CBD capsules.
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