Kadenwood, a privately held CBD consumer packaged goods company, has completed a $30 million cash Series B capital raise and will use the money to buy advertising and acquire more companies.
The Newport Beach, California, company says the raise also includes a $20 million media campaign to raise brand awareness, bringing the total value to $50 million.
Kadenwood has been on a CBD acquisition spree this year, buying Oregon’s Social CBD brand and the UK’s Healist Advanced Naturals.
“With this new round of funding, we are accelerating our mission of building enduring CBD brands that people trust as being safe and effective, while cementing our position as a leading global, vertically integrated CBD company,” Kadenwood co-founder and CEO Erick Dickens said in a statement.
The Craftory and Arcadian Capital Management led the Series B fundraising round.