Wed, 07 Apr 2021 | BUSINESS SALE
Consumer healthcare firm Fen Group, which specialises in cannabis-derived wellness products, has begun an acquisition drive with the takeover of CBD contract manufacturing specialist White Label 360.
The acquisition of the Barnsley-based company consolidates Fen Group’s position as one of the market leaders in the UK’s CBD and cannabis products industry. Fen Group, which is based in Halifax, says that the deal will be the first in a string of acquisitions.
White Label 360 has a broad product offering and a significant client portfolio. The acquisition, which includes White Label 360’s flagship CBDeaze brand, also opens up possible German and South African distribution channels for Fen Group.
Furthermore, the acquisition of White Label 360’s product offering enables Fen Group to submit market leading dossier to the Food Standards Agency (FSA), as per the upcoming legislation on Novel Foods.
Fen Group Chief Executive Tom Fennell commented: "This acquisition allows Fen Group to rapidly increase our revenues, whilst keeping our core value proposition consistent, we are very excited to build on the foundational work that Colin has put in.”
White Label 360 Chief Executive Colin O’Donnell added: "I am looking forward to working with Fen Group as they endeavour to bring structure into such a fragmented CBD market in the UK."
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The business serves a large catchment area and has a loyal client base of over 20,000 registered clients. It is growing by 175+ new per month.
LEASEHOLD
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