HeavenlyRx, a global hemp and CBD company, acquired a majority ownership stake from PureKana’s founding members.
WHO: Located in Scottsdale, Arizona, PureKana is recognized as a leading cannabidiol brand offering an ultra-concentrated CBD experience. Grown and harvested in Kentucky, their hemp is carefully processed to ensure a rigorous testing process. Their robust product lineup includes food-grade CBD that can be consumed in the form of pill capsules, powder, topical salves, oral sprays, and even edibles like peanut butter.
HeavenlyRx holds controlling ownership interests in various industry-leading assets in the hemp/CBD and THC-free cannabinoid wellness space, with a focus on hemp cultivation, processing, and the manufacturing of a diverse range of traditional CBD products including oils, tinctures, balms, and vape-ready products. HeavenlyRx’s portfolio will include several proprietary brands across numerous consumer product group verticals, including cosmetics and beauty products, bath and body products, and infused foods with a focus on the CPG market.
IN THEIR OWN WORDS: “PureKana has grown into one of the most important brands in the CBD industry,” said HeavenlyRx CEO Paul Norman. “With a dynamic entrepreneur and business leader like Cody Alt leading the helm, his vision to bring PureKana into the mainstream is a great fit for HeavenlyRx. PureKana’s powerful online presence, when combined with our reach to distribution into mainstream channels, will create a leading player in the marketplace.”
- HeavenlyRx acquired a majority ownership stake from PureKana’s founding members.
- PureKana has accelerated its revenue growth since its founding in 2017 and is projected to more than double its revenue by 2020.
- Currently, the majority of PureKana’s sales come from online and e-commerce. In the coming year, however, the brand with HeavenlyRx’s strategic selling capabilities plans to expand into major retailers and other retail environments.
Photo: via PureKana