UK's Top CBD And Wellness Marketplace Acquired By US Firm In $13.25M Transaction

Javier Hasse
2 min read
0

Thought Leaders, a U.S. cannabis and CBD investment company, has acquired mellow, the UK's top CBD and wellness marketplace, for $13.25 million.

The acquisition includes:

  • mellow.store, a curated multi-brand marketplace for global CBD wellness brands;

  • Grow by mellow, an end-to-end e-Commerce services business that's powering and growing direct to consumer brands in the CBD and cannabis space;

  • 50% of the recently launched mellow Asia.

Thought Leaders’ plans include launching mellow in the U.S., which is the world’s largest market for CBD products. The move establishes Thought Leaders firmly in the UK, European and Asian markets.

Co-founder and director at mellow, James Storie-Pugh said, “We are excited to make today’s announcement and proud of our new partnership with Thought Leaders in the US. It’s such an exhilarating time for CBD and these developments put mellow in the pole position to steer success for our e-tail platform and our end-to-end e-Commerce services as well as mellow Asia. As a result, mellow as a company will be at the forefront of rapid market growth globally.”

Neil Tunbridge, mellow director and co-founder agreed. “The cannabis industry is here to stay and more and more people are starting to embrace what is likely to be the single biggest driver of the health and wellness market over the next few years. The World Health Organization has recognized that CBD may have the potential to help with health issues such as sleep, insomnia to anxiety and pain," Tunbridge said. "A paper published in the Journal of Cannabis Research outlined the key reasons why people are turning to CBD. Anxiety (43%), sleep problems (43%), stress (38%), pain and health and wellbeing (37%) came out as the most common reasons. Even the sporting world can see the advantages of CBD. The world Anti-Doping Agency removed CBD from its list of banned substances in 2017, and the Tokyo Olympics allowed athletes to use CBD during the competition. Sports stars and athletes are often drawn to CBD for anxiety, pain relief and healing.”

mellow co-founders, Tunbridge and Storie-Pugh, will remain at mellow as company heads where they will continue to drive mellow growth and global expansion while also looking at new investment opportunities for the group.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories

  • Plug Power (PLUG) Reports Q1 Loss, Lags Revenue Estimates

    Plug Power (PLUG) delivered earnings and revenue surprises of -34.38% and 26.18%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

  • Can I Use My RMDs to Transfer Money Into My Roth IRA?

    If you're taking a required minimum distribution from an IRA, 401(k) or other tax-deferred account and don't need the money to cover living expenses, where should you stash that unneeded cash? Investors now need to start taking RMDs at age 73 or, if they were born after 1960, at age 75. Depending on the balances of […] The post Can I Use My RMDs to Transfer Money Into My Roth IRA? appeared first on SmartReads by SmartAsset.

  • Billionaire Bill Gates Has 51% of His Portfolio Invested in 2 Brilliant Stocks

    The Bill and Melinda Gates Foundation Trust outperformed the S&P 500 by a wide margin over the past three years, in part because of these two stocks.

  • ‘Seriously Underwater’ Home Mortgages Tick Up Across the US

    (Bloomberg) -- Roughly one in 37 homes are now considered seriously underwater in the US and that share is much higher across a swath of southern states, according to data out Thursday.Most Read from BloombergMicrosoft’s Xbox Is Planning More Cuts After Studio ClosingsAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t TrackStormy Daniels Will Return to Court in Test of Trump’s DemeanorArm Slides as Tepid Outlook Fuels Concerns Over AI SlowdownNationally, 2.7% of homes carried loan ba

  • Morgan Stanley Predicts up to 110% Rally for These 2 ‘Strong Buy’ Stocks

    Uncertainty is the word of the day, in reference to the near-term economic future. Sentiment will hinge on the inflation numbers due out next week. March’s figure rose to 3.5%, and April’s job numbers showed a marked slowing in the labor market; that combination has stoked fears of stagflation. But – corporate earnings from Q1 are beating expectations, and the stock market has taken a turn for the better with the S&P 500 closing just below 5,200 yesterday. Economic strategists are still optimist

  • Roblox Stock Is Plummeting After Earnings. Here’s What We Know.

    The videogame platform posted a narrower-than-expected quarterly loss and saw sales rise sharply from a year ago.

  • Ask an Advisor: Can a Nursing Home Take Our IRA? We Have a $100K IRA and a Trust to Protect Our Assets

    My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into … Continue reading → The post Ask an Advisor: Can a Nursing Home ‘Take Our IRA?' My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. appeared first on SmartAsset Blog.

  • Too many tractors: As boom times fade, farm equipment piles up

    Falling crop prices are leaving agriculture equipment sellers with an excess of unsold tractors and combines. The slower equipment sales are a knock-on effect of corn and soy prices dropping to more than three-year lows as U.S. farm income plummets and equipment makers and dealers are forced to pivot quickly after a period of booming business. Reuters interviewed ten equipment dealers, mostly in the Midwest, as well as farmers and analysts, who said low crop prices combined with persistently high interest rates are deterring farmers from purchasing machinery.

  • Roblox Stock Plunges On Firm's Weak Outlook. Investors Say 'Game Over.'

    Video game platform Roblox beat estimates for the first quarter but guided below views for the current quarter and full year. Roblox stock plummeted on the news.

  • Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report

    Social Security payments may be subject to cuts. Here's what the timing looks like.