London CBD group launches with "major milestone" of Denver acquisition
A London cannabinoid group has today launched in tandem with its acquisition of a Denver CBD brand.
Tenacious Labs has announced its launch through the acquisition of Denver-based CBD brand Press Pause in a cash-and-shares deal.
The company, which is embarking upon a buy-and-build strategy, has said that it will be announcing further acquisitions later this month.
This will be supported by the forthcoming launch of two new UK focused brands: Walker & Morland, a CBD brand created to help those who suffer from chronic pain and anxiety, and Hoo Raa, a CBD brand designed to help manage mood.
Nicholas Morland, CEO and co-founder of Tenacious Labs, commented: “I am delighted to welcome Press Pause to the Tenacious Labs group and look forward to working with Dawn and her team.
“Our first acquisition, this is a major milestone in our strategy of building and developing a global portfolio of consumer cannabinoid brands. It brings an established US brand to the UK as the market enters its next phase of growth and consolidation.
“Tenacious Labs is incredibly ambitious and we are working hard to identify and integrate exciting and emerging brands within the sector.
“We have a pipeline of acquisition opportunities ahead of us, and expect to announce further developments in the near future.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.