CBD company Kadenwood acquires large private label producer
Consumer seed-to-shelf CBD company Kadenwood has acquired EcoGen Laboratories, a global manufacturer of hemp-derived CBD materials and formulations that last year earned $63 million in revenue through the sale of its CBD to private label brands and retailers.
Kadenwood picked up the company to expand its ability to scale up production of CBD products in the United States. EcoGen is said to be the world’s first large-scale manufacturer of hemp-based ingredients and raw materials using sustainable farming practices to ensure quality CBD products, and the move will help the company take advantage of Kadenwood’s distribution channels and marketing expertise, which includes leaders with decades of experience in CPGs.
"We're committed to improving not just our brand, but the perception of our industry overall, and that starts with ensuring consumers have access to quality CBD products they can trust," said Erick Dickens, CEO and co-founder of Kadenwood, Newport Beach, Calif. "EcoGen has maintained a commitment to producing sustainable and consistent CBD and we're happy to bring them under the Kadenwood brand as we expand our offering of exceptionally pure CBD products that continue to set the industry's standard of quality."
In addition to investing capital, executive expertise and infrastructure support for EcoGen's operations in the Grand Valley, Colo, region, Kadenwood has appointed Garrett Bain, chief commercial officer, and Jason Waggoner, vice president and general manager, to EcoGen's executive team. They will relocate to its Grand Junction, Colo., headquarters and focus on strategically scaling the staff and business operations supporting EcoGen's sales, manufacturing and processing capabilities.
Kadenwood said the company’s mission is to elevate the CBD industry and bolster consumer confidence in the wellness category. Since its launch, Kadenwood has been working to bridge the gap between the high-growth CBD industry and institutional stakeholders.