A PYMNTS Company

Kadenwood Buys EcoGen Creating Largest Hemp-Based CBD Supplier

By  |  August 20, 2020

California-based Kadenwood announced on Thursday, August 20, that it would buy EcoGen Laboratories as it looks to tap into rising demand for hemp-derived cannabidiol (CBD) products, while creating an integrated supplier worth about US$250 million. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    CBD, a derivative of the cannabis plant, is believed to ease anxiety and other ills without the high of its close cousin, marijuana. The product is legally allowed to be sold throughout the United States and can be infused with food and drinks. 

    The deal will help Kadenwood, which grows its own hemp and sells packaged products derived from it, gain access to EcoGen’s industrial-scale capacity for making ingredients and extracts. 

    “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,” Kadenwood Chief Commercial Officer Garrett Bain told Reuters.