Kadenwood Raises $50M to Accelerate Leadership Position in Shaping CBD Into Mainstream Wellness Category
The Craftory, Arcadian Capital and Existing Investors Led the Series B Round as Kadenwood Expands Its Global Presence & Distribution Network with Recent Acquisitions Including Healist Advanced Naturals and Social CBD
NEWPORT BEACH, Calif., June 29, 2021 /PRNewswire/ -- Kadenwood, a leading plant-based wellness company dedicated to fostering consumer trust and transparency, has raised $50 million of cash and media value in a Series B fundraising round with global purpose-led investment house The Craftory and Arcadian Capital Management, and follow-on investments from existing investors. Already the largest U.S. supplier of vertically-integrated CBD consumer packaged goods, this latest funding round further accelerates the brand's mission to normalize CBD in health and wellness products through scale, strategic partnerships and acquisitions.
In just the first half of 2021, Kadenwood has made a number of high-profile acquisitions, including CBD wellness brands Healist Advanced Naturals and Social CBD. Kadenwood's organic growth and acquisition approach is creating the largest retail CBD distribution network in the United States, including major drug and grocery store chains, increasing consumer access to trusted CBD products. The acquisition of U.K.-based Healist Advanced Naturals will allow Kadenwood to scale quickly providing new retail and e-commerce distribution channels to bring high-quality CBD to consumers globally. The additional acquisition of Oregon-based Social CBD enables Kadenwood to offer a wider array of products to mass-market consumers across a broad range of demographics as they increasingly look to powerful and plant-based solutions for their health.
Kadenwood had a landmark year of growth in 2020, raising $15 million in a Series A funding round followed by the acquisition of EcoGen Biosciences, the leading global manufacturer and supplier of hemp-derived CBD materials and formulations. The deal effectively established Kadenwood as the largest supplier of vertically-integrated, hemp-derived cannabidiol (CBD) in the US, expanding the company's ability to scale production of its quality-driven CBD products.
"Healist has deep, strong foundations in consumer insights, and understands Sleep, Calm and Relief like no other CBD brand. We will continue our partnership with this bold CPG challenger brand by investing in Kadenwood, as we view them as the perfect home for Healist," explains Elio Leoni Sceti, Co-Founder & Chief Crafter at The Craftory.
"With this new round of funding, we are accelerating our mission of building enduring CBD brands that people trust as being safe and effective, while cementing our position as a leading global, vertically-integrated CBD company," said Erick Dickens, Co-Founder and CEO of Kadenwood. "This funding round solidifies our ability to execute a $20M media campaign to drive consumer awareness and support our retail partners with these industry leading brands. We're incredibly excited by the growth ahead for Kadenwood and our family of brands as we focus on scaling and growing our business while helping shape the future of CBD and plant-based wellness."
About CBD CBD is a non-intoxicating cannabinoid found in cannabis. After tetrahydrocannabinol (THC), cannabidiol (CBD) is the second most abundant cannabinoid in the plant and is believed to have many potential therapeutic benefits.
About Kadenwood Founded in 2019, Kadenwood is a privately held consumer products lifestyle company relentlessly focused on shaping CBD into a trusted and safe mainstream wellness category. To drive this mission, Kadenwood is backed by decades of CPG marketing and category innovation expertise and industry-leading, vertically integrated CBD farming to ensure quality CBD oil from seed-to-shelf that contains 0% THC. In 2019, Kadenwood launched its first plant-based branded products under LEVEL SELECT™ in personal care. And in late 2020, Kadenwood launched the Purity Preferred™ Pet business, as well as Purity Organic® hot teas, to add to its portfolio of CBD brands.
About The Craftory Based in London and San Francisco, The Craftory is a $375M global investment house focused exclusively on amplifying the world's boldest consumer brands. We offer permanent, early stage and growth capital to cause-driven CPG brands that positively impact the categories they serve, society, and the planet. The Craftory is a proud B-Corp.