Cannabidiol (CBD) is rising in popularity as people learn about its potential health benefits, which range from relaxation, pain relief, and fighting inflammation to treating people with epilepsy. There's still a lot for researchers to learn about CBD and what it can and cannot do, but in the meantime, companies are putting the cannabis compound just about everywhere, from burgers to pillows to clothing. That's why many companies are getting involved, including consumer goods companies that see an opportunity to help boost their sales by getting in on a hot new health trend.
Unilever (NYSE: UL) announced last year that it would be entering the cannabis industry through one of its subsidiaries, Schmidt's Naturals. The latest consumer products company to enter the cannabis fray is Colgate Palmolive (NYSE: CL).
In January, Colgate announced it would purchase an oral care brand, Hello Products. The company sells toothpaste, floss, toothbrushes, and other oral hygiene products. One of the reasons Colgate is excited about the deal is because of Hello Products' focus on young customers, with what Colgate CEO Noel Wallace calls "distinct on-trend positioning."