US-based CBD investment company Thought Leaders announces $13.25m acquisition of mellow

Thought Leaders, the US-based cannabis & CBD investment company, has announced a $13.25m acquisition of mellow, the UK’s top CBD and wellness marketplace.

The acquisition will include mellow.store, the multi-brand marketplace for global CBD wellness brands; and Grow by mellow, the end-to-end e-Commerce services business that is powering and growing direct to consumer brands in the CBD and cannabis space.

Thought Leaders’ plans include launching mellow into the US, which remains the world’s largest market for CBD products. The move establishes Thought Leaders firmly into the markets of the UK, Europe, and Asia.

Co-founder and director at mellow, James Storie-Pugh says: “We are excited to make today’s announcement and proud of our new partnership with Thought Leaders in the US. It’s such an exhilarating time for CBD and these developments put mellow in the pole position to steer success for our e-tail platform and our end-to-end e-Commerce services as well as mellow Asia. As a result, mellow as a company will be at the forefront of rapid market growth globally.”

Neil Tunbridge, mellow director and co-founder notes further: “The cannabis industry is here to stay and more and more people are starting to embrace what is likely to be the single biggest driver of the health and wellness market over the next few years. The World Health Organization has recognised that CBD may have the potential to help with health issues such as sleep, insomnia to anxiety and pain. A paper published in the Journal of Cannabis Research, outlined the key reasons why people are turning to CBD. Anxiety (43%), sleep problems (43%), stress (38%), pain and health and wellbeing (37%) came out as the most common reasons. Even the sporting world can see the advantages of CBD. The world Anti-Doping Agency removed CBD from its list of banned substances in 2017, and the Tokyo Olympics allowed athletes to use CBD during the competition. Sports stars and athletes are often drawn to CBD for anxiety, pain relief and healing.”

James Storie-Pugh adds; “While the U.S. remains the biggest single market for CBD products, the UK is now the 2nd biggest market for CBD products, with the market valued in the year up to end of April 2021 at £690 million. The rest of Europe is following suit and Asia Pacific is predicted to see an enormous and rapid surge but there is a delay on the regulatory side. However, consumer interest has been piqued and growth is guaranteed. In 2020, the global CBD market was valued USD 2.8 billion and is set to continue this impressive trajectory at a compound annual growth rate of 20.1% until 2028. Some estimates show even larger CAGR projections of 40.4% CAGR between 2020 and 2025 and project the value of the global CBD market to reach USD 5.3 billion by 2025. It is expected that the value of the global CBD market may reach USD 5.3 billion by 2025.”

enewsletter