CBDHF - InvestorNewsBreaks - HempFusion Wellness Inc. (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO) Closes Apothecanna Acquisition
HempFusion Wellness (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO), a leading health and wellness company offering premium probiotic supplements and products containing CBD, has completed its previously announced acquisition of APCNA Holdings LLC (“Apothecanna”). According to the update, Apothecanna achieved revenue of over $3.8 million in 2020, which now triples HempFusion’s historical proforma revenue to ~$12 million with significant expansion planned for 2021 and beyond. This makes the acquisition immediately accretive to the company. “With the recent Sagely Naturals acquisition and now closing of the Apothecanna acquisition, HempFusion is in its strongest position to date. Not only have we significantly increased our distribution footprint and product offerings, based on a 2020 proforma revenue basis of all entities combined, the acquisitions bring our historical revenue to nearly $12 million USD,” said Jason Mitchell, N.D., CEO of HempFusion. “We look forward to benefiting from the Sagely Naturals and Apothecanna distribution footprints and products, which have been known for their strong topical products, and exploring opportunities to introduce HempFusion’s premium CBD ingestibles throughout their existing distribution points.”
To view the full press release, visit https://ibn.fm/qoCSM
About HempFusion Wellness Inc.
HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research, and HF Labs, to approximately 4,000 retail locations across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 48 SKUs including tinctures, proprietary FDA drug listed over-the-counter (“OTC”) topicals, doctor/practitioner lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the U.S. Hemp Roundtable, and HempFusion’s wholly owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex™ and are available in-store or by visiting HempFusion online at www.HempFusion.com or www.Probulin.com.
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at http://ibn.fm/HempFusion
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