SAN DIEGO, Nov. 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBDCapitalGroup (“CCG” or the “Company”), a cannabidiol (CBD) nutraceuticals investment and scaling company, today announced that it has acquired its second portfolio company, Mana Artisan Botanics™ (“Mana Botanics”), a purpose-driven, artisanal hemp-infusions company based on the Big Island of Hawaii.
CBDCapitalGroup identifies CBD companies with unique competitive advantages and guides them to success through capital as well as expert advice and operational resources. The Company selected Mana Botanics due to its exclusive line of Hawaiian-infused CBD topicals, oils, and tinctures, which has led to a loyal following among its strong recurring customers, including the luxury spa market. “The completion of our second acquisition further demonstrates the ability of the CCG team to consistently add acquisitive CBD revenue at below-market multiples, while at the same time continue to organically and profitably grow our portfolio revenue,” said CBDCapitalGroup CEO David Metzler.
“As we aim to expand the reach of our artisanal hemp extracts, we look forward to scaling without losing sight of our values and commitments through the guidance of the CBDCapitalGroup leadership team,” said Steve Salaka, Co-Founder of Mana Botanics.
The transition will be led by Zak Garcia, Chief Marketing Officer for CCG, who will step in as interim Chief Executive Officer for Mana Botanics. In this role, Garcia intends to steer the company toward increased success through a series of business updates, including the expansion of the spa product line, a multi-pronged marketing strategy, along with a transition to cGMP production to meet the high demand for Mana Botanics’ products.
Andy Noorda, the principal investor behind Mana Botanics, said, “I am excited to rollup my seed investment for Mana into CBDCapitalGroup because of their vision and the experience of the management team. Under CCG’s guidance, Mana has a better opportunity to realize our original vision to deliver the purest CBD products to the widest audience possible. I also expect a higher upside potential, with my initial investment now hedged against their growing portfolio of CBD companies.”
According to a Gallup study published in August 2019, one in seven American adults use CBD for a range of purposes while 64 percent know about CBD. That number is expected to grow as the Brightfield Group predicts the CBD industry will reach nearly $24 billion by 2024.
About CBDCapitalGroup:
CBDCapitalGroup (“CCG” or the “Company”) is an investment and scaling company that acquires and develops mid-stage CBD and hemp nutraceutical companies to promote both financial and professional success. The Company is led by a group of seasoned entrepreneurs who have managed over $1 billion in combined revenue over their careers, and now apply their diverse business experiences to establish trust, quality standards and efficiencies in the CBD market. The Company provides CBD industry entrepreneurs a faster path to revenue growth and liquidity with capital, expert advice and operational resources needed to scale already profitable businesses.
About Mana Artisan Botanics™:
Mana Artisan Botanics™, Hawaii’s first wellness-driven hemp company, handcrafts phytocannabinoid-rich products for endocannabinoid system (ECS) support. Based on the Big Island of Hawaii, the company offers artisanal, whole-plant hemp extracts, infused with pure Hawaiian botanicals. The Mana team members all share a deep desire for wholesome, healthful living, and their efforts demonstrate a commitment to regenerative agriculture, the local economy, and holistic health education. Mana Artisan Botanics™ products are Good for Body & Soil™. For more information visit manabotanics.com and connect with us on Facebook, Instagram and Twitter.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE:
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
LEGAL DISCLOSURE:
None of the parties involved, including CBDCapitalGroup and Medix CBD, sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). Medix CBD does grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
PUBLIC RELATIONS CONTACT:
Kathryn Reinhardt
Account Manager, CMW Media
P: 858-283-4005
kathryn@cmwmedia.com