HempFusion CBD buying Sagely Enterprises leader in premium CBD products with mass distribution in more than 14,000 retailers nationwide.(TSX:CBD.U) (OTC:CBDHF and Frankfurt) The deal is valued at $25 million and consists of $2 million in cash and $23 million in common shares of HempFusion at a price per share of roughly $1.021. In addition, the sellers may be entitled to receive an earnout payment of up to $5 million subject to Sagely hitting certain revenue targets within a year.
“Upon closing, the acquisition of Sagely Naturals immediately adds significant value to shareholders. By more than tripling our 2020 revenue (when combined with the closing of Apothecanna), expanding to over 15,000 stores, expanding our distribution strategy to six channels, combining some of the top executive talent in the industry, and bringing together over 75 incredible and best-selling SKUs, HempFusion is in its strongest position to date,” said Jason Mitchell, N.D., HempFusion’s Co-Founder and CEO. “We expect the combined proforma entity to achieve substantial growth over our historical financials and cement our leadership position in the CBD industry while setting the stage for tremendous growth in 2021 and 2022,” continued Dr. Mitchell.
Sagely was founded in 2015 by Kerrigan Behrens and Kaley Nichol and is the largest female-founded CBD wellness brand. Sagely Naturals maintains a strong presence in the top Drug retailers nationwide and is sold in key retailers such as CVS, Rite Aid, Albertsons, Sprouts, Nordstrom, and many other independent regional grocers and natural food stores. The company’s products are available in over 14,000 retail locations. Sagely Naturals has consistently maintained the number one position in CBD topicals, with 23% market share in the Drug channel and 13.8% market share in the Multiple Outlet channel (according to IRI data). Including ingestibles, Sagely Naturals is the #3 CBD brand and one of the only brands showing consistent growth in the all-time periods within the latest 52 weeks (according to IRI and MULO data). Out of the top 20 selling CBD SKUs in MULO, Sagely Naturals have five SKUs, with the Extra Strength Relief & Recovery Cream is the #1 selling SKU in Chain Drug.
“Allowing people to do more of what they love has always been at the heart of our mission at Sagely Naturals. HempFusion approaches the industry the right way and possesses the resources required to help us significantly scale our business, increase our market share, and expand beyond our stronghold in the United States to international jurisdictions,” said Kerrigan Behrens, Co-Founder and Co-CEO of Sagely Naturals. “Quality and consumer safety are of the utmost importance to our brand, and Dr. Jason Mitchell and his team have been market leaders in the CBD category in this regard. We are incredibly excited to be joining the HempFusion team,” added Kaley Nichol, Co-Founder and Co-CEO of Sagely Naturals.
https://uk.finance.yahoo.com/news/hempfusion-...00558.html
Read More: https://investorshangout.com/post/view?id=621...z73Sjk2MQa
“Upon closing, the acquisition of Sagely Naturals immediately adds significant value to shareholders. By more than tripling our 2020 revenue (when combined with the closing of Apothecanna), expanding to over 15,000 stores, expanding our distribution strategy to six channels, combining some of the top executive talent in the industry, and bringing together over 75 incredible and best-selling SKUs, HempFusion is in its strongest position to date,” said Jason Mitchell, N.D., HempFusion’s Co-Founder and CEO. “We expect the combined proforma entity to achieve substantial growth over our historical financials and cement our leadership position in the CBD industry while setting the stage for tremendous growth in 2021 and 2022,” continued Dr. Mitchell.
Sagely was founded in 2015 by Kerrigan Behrens and Kaley Nichol and is the largest female-founded CBD wellness brand. Sagely Naturals maintains a strong presence in the top Drug retailers nationwide and is sold in key retailers such as CVS, Rite Aid, Albertsons, Sprouts, Nordstrom, and many other independent regional grocers and natural food stores. The company’s products are available in over 14,000 retail locations. Sagely Naturals has consistently maintained the number one position in CBD topicals, with 23% market share in the Drug channel and 13.8% market share in the Multiple Outlet channel (according to IRI data). Including ingestibles, Sagely Naturals is the #3 CBD brand and one of the only brands showing consistent growth in the all-time periods within the latest 52 weeks (according to IRI and MULO data). Out of the top 20 selling CBD SKUs in MULO, Sagely Naturals have five SKUs, with the Extra Strength Relief & Recovery Cream is the #1 selling SKU in Chain Drug.
“Allowing people to do more of what they love has always been at the heart of our mission at Sagely Naturals. HempFusion approaches the industry the right way and possesses the resources required to help us significantly scale our business, increase our market share, and expand beyond our stronghold in the United States to international jurisdictions,” said Kerrigan Behrens, Co-Founder and Co-CEO of Sagely Naturals. “Quality and consumer safety are of the utmost importance to our brand, and Dr. Jason Mitchell and his team have been market leaders in the CBD category in this regard. We are incredibly excited to be joining the HempFusion team,” added Kaley Nichol, Co-Founder and Co-CEO of Sagely Naturals.
https://uk.finance.yahoo.com/news/hempfusion-...00558.html
Read More: https://investorshangout.com/post/view?id=621...z73Sjk2MQa
Robert
