Yooma Wellness, a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, has acquired UK-based market leader Vitality CBD Limited.
WHO: Vitality CBD is the most widely stocked brand of CBD in the UK, with products distributed in national retailers and on e-commerce retailers such as Amazon, Very, and Ocado. The Vitality CBD product portfolio has over 60 SKUs, including oils and sprays in a wide range of flavors and strengths, edibles, and a specially developed and formulated range of cannabinoid (CBD) skincare cosmetic products.
Yooma Wellness's mission is to build a global leader in the marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and CBD ingredients. The company leverages strategically curated sales channels and e-commerce networks to deliver a diverse mix of wellness products through subsidiaries in China, Japan, and the United States. Yooma has assembled an international team of multicultural industry professionals with extensive experience in digital marketing, e-commerce, and social media in the EU, North America, and the pan-Asian region, with particular depth in the Chinese e-commerce market.
WHY: The deal is part of Yooma's buy-and-build strategy to build the world's largest CBD and wellness business. The acquisition adds a significant source of recurring revenue to Yooma and its subsidiaries through Vitality's distribution in mainstream retail outlets such as Boots, Lloyds Pharmacy, Tesco, and ASDA, as well as expanding Yooma's target customer base and distribution network for its existing European-focused brands, including MYO Plant Nutrition.
IN THEIR OWN WORDS: "Completing the acquisition of Vitality is the first step of the strategic plan the Company outlined to investors at the time of our UK financing and dual-listing—to buy and build companies globally, focused on materially increasing the Company's top-line revenue, leveraging Yooma's integrated supply chain to drive margin growth, and expanding distribution for the existing product portfolio," said Yooma Chairman Lorne Abony. "This acquisition will help accelerate our growth by exporting these branded products to other Yooma jurisdictions and integrating with our MYO Plant Nutrition operations and distribution. Vitality is a market leader in the UK with presence in major retail outlets such as Boots, ASDA and Lloyds Pharmacy and we look forward to working with the team at Vitality."
Nikhil Nathwani, co-founder and Managing Director, commented on the acquisition, "The whole Vitality CBD team is excited to be joining the Yooma group. CBD is a growing industry not only in the UK but globally, and the acquisition positions us nicely to be able to continue to expand and grow the business."
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