A California consumer products company has purchased a hemp and CBD producer headquartered in Grand Junction, Colorado.
Kadenwood LLC, a privately held consumer-products company focused on amplifying CBD in the mainstream retail-wellness category, has acquired EcoGen Laboratories, a four-year-old company that manufactures and distributes CBD from hemp produced from its own proprietary genetics.
The price of the acquisition was not disclosed.
In the midst of the coronavirus pandemic, the deal will apply Kadenwood’s distribution channels and CPG experience to EcoGen’s sustainably produced CBD products, according to Erick Dickens, Kadenwood’s CEO and co-founder.
EcoGen will be positioned as a wholly owned Kadenwood subsidiary, which will receive new capital, infrastructure support and strategic executive expertise to help the business recover from the pandemic and grow its operations.
Kadenwood has appointed Garrett Bain, chief commercial officer, and Jason Waggoner, vice president and general manager to the EcoGen team. Both will relocate to EcoGen’s Colorado headquarters.
Kadenwood recently formed a joint venture with Munger Farms – a privately held blueberry, pistachio and almond grower based in Delano, California – to scale Kadenwood CBD products through Munger’s growing facilities and harvesting equipment.
