A California consumer products company has purchased a hemp and CBD producer headquartered in Grand Junction, Colorado.
Kadenwood LLC, a privately held consumer-products company focused on amplifying CBD in the mainstream retail-wellness category, has acquired EcoGen Laboratories, a four-year-old company that manufactures and distributes CBD from hemp produced from its own proprietary genetics.
The price of the acquisition was not disclosed.
EcoGen will be rebranded as EcoGen Biosciences positioned as a wholly owned Kadenwood subsidiary, which will receive new capital, infrastructure support and strategic executive expertise to help the business recover from the pandemic and grow its operations.
Kadenwood has appointed Garrett Bain, chief commercial officer, and Jason Waggoner, vice president and general manager to the EcoGen team. Both will relocate to EcoGen’s Colorado headquarters.