Plant-based wellness company Kadenwood has raised $50 million in a Series B funding round led by The Craftory and Arcadian Capital Management as well as currently involved investors.
Out of the $50 million, $30 million are in cash and the remaining $20 million in media value, an allocated budget to be spent on ad campaigns that drive consumer awareness.
The cash will be used to “accelerate the brand’s mission to normalize CBD in health and wellness products through scale, strategic partnership and acquisitions,” management explained.
“With this new round of funding and recent acquisitions, we reinforce our position as a leading global, vertically integrated company with an unmatched ability to scale production of trusted, quality-driven plant-based wellness products,” said Erick Dickens, Kadenwood’s co-founder and CEO. “We have the right tools and the right team to continue to lead the industry in developing CDB into a mainstream wellness category that consumers can trust.”
The Series B funding news follows two recent acquisitions this month, CBD wellness brands Healist Advanced Naturals and Social CBD. Kadenwood says the acquisitions will help expand its global presence and distribution network.
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