Taylor Mammon, a UK-based CBD manufacturer and distributor, has been acquired by GenCanna.
The Kentucky-based producer of hemp-derived CBD and other cannabinoids is a world leader in the THC-free CBD market.
Taylor Mammon, situated in Hertfordshire, specialises in white label manufacturing and brand distribution.
According to a joint statement, the takeover positions the company as ‘a full-service, vertically integrated, worldwide CBD gateway’.
Both organisations agree that the union will continue what has been a successful three-year relationship between the two companies, ‘in which GenCanna served, and will continue to serve,’ as Taylor Mammon’s primary source of CBD.
Commenting on the news, Nathan Wogman, co-founder and Managing Director of Taylor Mammon said:
“We are delighted with the opportunity this acquisition affords us.
“GenCanna’s acquisition of Taylor Mammon positions us for significant international growth and to be a global leader in the CBD arena.
“Our partnership provides us with the financial and intellectual capital and discipline to accelerate our growth through product innovation, contract manufacturing, fulfillment, and distribution services.”
GenCanna CEO, Andrew Barnett, added:
“This alliance — which we understand is the first of its kind for a UK-based CBD company — drives unique and mutually beneficial operational and marketing synergies that will catapult product development, sales, and revenue opportunities within our respective geographies.”
The acquisition comes on the heels of an 18-month initiative at Taylor Mammon to prepare for its Novel Foods Application at a UK and EU level.