HempFusion Acquiring Sagely Naturals
- California-based CBD and wellness company HempFusion has agreed to purchase Sagely Naturals for $25 million.
- The terms of the deal include that the purchase will consist of $2 million in cash with the remaining $23 million in common shares of HempFusion.
- HempFusion is expected to undergo tremendous growth in the remainder of 2021 and continuing into 2022.
HempFusion Wellness, a CBD company based in California, has agreed to purchase Sagely Naturals for a sum of $25 million.
Sagely Naturals, also based in California, is a CBD brand with products on the shelves of over 14,000 retailers in the United States.Their products are female-focused, and can be found in popular stores like Rite Aid, Albertsons, Sprouts, and CVS.
The terms of the $25 million include $2 million in cash along with $23 in common shares of HempFusion.
Kerrigan Behrens and Kaley Nichol, co-CEOs of Sagely Naturals, may also receive a $5 million payment that is subject to achieving revenue targets. The payment would be 40% HempFusion shares with the remainder being in cash.
“Allowing people to do more of what they love has always been at the heart of our mission at Sagely Naturals,” said Behrens. “HempFusion approaches the industry the right way and possesses the resources required to help us significantly scale our business, increase our market share, and expand beyond our stronghold in the United States to international jurisdictions.”
HempFusion shareholders are excited for this move as well, as the company has huge potential to grow their revenue numbers and share prices.
“Upon closing, the acquisition of Sagely Naturals immediately adds significant value to shareholders,” said HempFusion’s Co-Founder and CEO, Jason Mitchell, N.D.
“We expect the combined proforma entity to achieve substantial growth over our historical financials and cement our leadership position in the CBD industry while setting the stage for tremendous growth in 2021 and 2022,” continued Mitchell.
The market for CBD products only continues to grow with each passing year. Companies with an early foothold will definitely have the advantage as it continues to expand, and continue to be the most popular option for investors.