Oral hygiene giant Colgate Palmolive is joining the ranks of major U.S. companies entering the hemp and CBD space, with one of its soon-to-be brands launching a line of cannabidiol-containing toothpastes, mouthwashes and lip balms.
Colgate announced in January an agreement to acquire the “naturally friendly” brand, citing its “strong appeal among younger consumers and across broad segments.”
Founded by Craig Dubitsky in 2012, Hello Products has goods in more than 44,000 U.S. retail locations.
The company’s CBD line consists of three toothpastes, two mouthwashes and two lip balms.
All contain broad-spectrum hemp oil and hemp extract from hemp grown by U.S.-based partner farms and were available at 1,190 Ulta Beauty stores beginning Feb. 1, the company said in a statement.
The Hello Products acquisition was a stock-and-cash deal and was expected to close no later than February 2020, Colgate said.
No other details about the deal were announced.
Colgate trades on the New York Stock Exchange as CL.