(This story has been updated to add the purchase price and correct Entoura’s headquarters to Nashville, Tennessee.)
Hemp producer Entoura, a privately held, vertically integrated hemp company, has acquired the assets of Atalo Holdings, a hemp producer and CBD manufacturer located in Winchester, Kentucky.
Headquartered in Nashville, Tennessee, Entoura has facilities in Kentucky, New York, South Carolina, Tennessee and Nevada focused on an institutional-scale supply chain pipeline for hemp and CBD products.
Entoura did not disclose how much it spent to acquire Atalo’s assets, though a June 5 order filed in the Kentucky court where Atalo filed for bankruptcy protection lists a purchase price of $500,000.
Atalo chairman Andrew Graves called his company “an attractive opportunity for a timely new investor seeking revenue-producing assets.”
Atalo Holdings CEO Bill Hilliard told Hemp Industry Daily in May that the bankruptcy trustee reported at least three companies were interested in purchasing Atalo’s assets.
Terms of the acquisition were not disclosed.
As a certified organic hemp producer and cGMP-certified product manufacturer, Entoura will leverage Atalo Holdings’ genetics and existing white-label CBD and hemp protein brands and product scope to enhance its own product line and offer private label services, including hemp genetics and flower and hemp oil extraction.
“Atalo’s incredible legacy in hemp cultivation, innovation and advocacy is truly inspirational, and we look forward to continuing that story,” said Kevin Murray, Founder and Chief Executive Officer of Entoura.
Atalo Holdings’ assets include its Hemp Research Campus in Winchester, Kentucky, which focuses on seed improvement, agronomics, mechanical harvesting and processing techniques.