UK-based CBD Team Tenacious Labs Starts with US Purchase – The Grocer
Tenacious Labs will function as a”buy-and-build” automobile in the cannabinoid products space, and it has started with the purchase of Denver-based CBD new Press Pause at a cash-and-shares deal.
Tenacious said is harbours”aspirations to become the leading consumer-centric cannabinoid set on earth” and assured additional acquisitions in the area in the”coming days”.
Initially focussed on the US and UK markets, it will launch in the UK with two new brands — Walker & Morland, a CBD new created to aid people who suffer from chronic pain and worry; and Hoo Raa, a CBD new designed to help manage disposition.
Tenacious Labs is led by co-founders Nicholas Morland, a chartered accountant who has significant experience in private equity and will operate as CEO, and Adrian Clarke, that will function as chief commercial officer and has worked widely in the global spirits and superior optional spend sectors.
The new team said its purchase of established direct-to-consumer new Press Pause is a”major milestone” in its own strategy. Co-founded at 2018 by Dawn Fable, Press Pause creates superior CBD products for women’s wellbeing, including CBD balms, bath bombs, tinctures and full-spectrum CBD capsules.
Fable has united Tenacious Labs as’Head of Pause Lifestyle Brands’ to induce global expansion.
Morland commented:”Our very first purchase, that is a major landmark in our plan of developing and building a worldwide portfolio of consumer cannabinoid brands. It attracts an established US new to the UK as the market enters its second stage of expansion and consolidation.
“Tenacious Labs is incredibly ambitious and we are working hard to identify and integrate emerging and exciting brands within the sector. We have a pipeline of acquisition opportunities ahead of usexpect to announce additional improvements in the near future.”
Clarke added:”That is a really important step in our strategy to become one of the world’s leading cannabinoid businesses working on an unrivalled portfolio of global brands.
“As consumer attitudes to cannabinoids change, we see tremendous potential for value creation within the industry. We’re calling UK regulators to unite the industry’s stakeholders and construct a transparent framework that not only protects consumers, but in addition makes it possible for the industry to flourish for years to come.”
Fable commented:”We’ve seen substantial growth in the US CBD market over recent years and have been attracted by Tenacious Labs’ ambitions on each side of the Atlantic. With Tenacious Labs’ funding, industry understanding and crystal clear growth plan, it was clear there was no better partner to assist us comprehend Press Pause’s full potential.”