Private owned consumer product lifestyle company Kadenwood LLC has acquired Colorado based EcoGen Laboratories. Kadenwood is looking forward to maximize on this acquisition to address increasing demand of Cannabidiol (CBD) products.
California based Kadenwood is hoping to use EcoGen laboratories to create an integrated cannabidiol supplier worth over $250 million. The company did not disclose how much the deal was.
“For us, it was the right time to unite the two very strong brands in the space. Both that are individually focused on different segments of the market – consumer packaged goods and the ingredient space,” said Garrett Bain, Chief Commercial Officer of Kadenwood.
Cannabidiol is a product extracted from cannabis plant which is believed to cool down anxiety and other ills without one feeling high as it is the case when one uses marijuana.
In the United States, Cannabidiol is legally allowed to be sold, the product can be mixed with foods and drinks.