Illinois holding company buying hemp manufacturers, says it wants in on boom

Published May 28, 2019

An Illinois holding company is acquiring manufacturers that make hemp-derived CBD products, with an eye toward becoming a serious player in the space.

Acquired Sales Corp. of Lake Forest is changing its name to CBD Lion and is flexing into the hemp market with significant acquisitions and investments:
  • The company is acquiring Lifted Liquids – a CBD manufacturer in Zion, Illinois – for $7.5 million cash and 4.5 million shares of stock.
  • It is buying CBD Lion (and adopting its name) for $2 million cash and 5 million shares of stock. CBD Lion is based in Mundelein, Illinois, and makes CBD products.
  • Earlier this month, Acquired Sales bought an ownership stake in Ablis Holding Co., which makes CBD-infused beverages in Bend, Oregon. The deal, which included Bendistillery and Bend Spirits, gave Acquired Sales a 4.99% stake in the beverage companies for $1.9 million.

Acquired Sales CEO Gerard Jacobs tells Hemp Industry Daily the company is not done acquiring hemp-derived CBD manufacturers.

“We’re planning to acquire many, many companies in this space,” said Jacobs, who added his company is funded by individual investors.

Acquired Sales trades on over-the-counter markets as AQSP.