Former Coty chief executive officer Camillo Pane’s latest venture, an incubator called Present Life, has inked a deal to sell CBD line Healist to Kadenwood.
Founded in 2020, Healist makes topical and ingestible CBD wellness products meant to help with stress, sleep, pain relief and immune support. The line is sold online and in mass retail channels, and is available in the U.S., U.K. and Brazil. Pane, who is chairman and cofounder of Present Life, declined to provide sales figures, but said the brand is growing quickly.
“The purpose is trying to democratize the access to CBD to more consumers,” he said. “We built it from scratch. We were quite meticulous…From a brand building point of view, we felt there was an opportunity to truly give access to high-quality, professional CBD to consumers with a high levels of transparency,” Pane said.
He noted the deal should allow Healist to offer an even broader range of CBD products, given Kadenwood’s capabilities in the sector. “The difference between Kadenwood and the other fully focused CBD companies in the U.S. is they own growing, farming and extraction — they have this full vertical integration which really allows a set of capabilities that a lot of brands would want to have in-house,” Pane said.
You May Also Like
Kadenwood owns several brands already, including Purity Organic teas and pet products, and Level Select CBD. Pane said that the business is “well known” for investing in its brands, and that there is already a television advertising campaign set up for Healist.
Terms of the deal are not disclosed, but as part of the transaction, Present Life’s backer The Craftory will also make an investment in Kadenwood. Pane will become a member of Kadenwood’s board, and will help continue to develop Healist and other CBD brands.
Present Life also owns Loum, a skin care line centered around psychodermatology, and One Ocean Beauty, which was founded by Marcella Cacci in 2018. Pane said that for now, the company would continue to focus on those two brands.
For more from WWD.com, see:
Castanea’s Investment Team Has Started a New PE Firm
Sephora Said Tightening Clean Beauty Standards
Updated: All the Beauty M&A Deals of 2021
Source: Read Full Article