U.K.’s Top CBD Marketplace Acquired by U.S. Firm

mellow, the United Kingdom’s top CBD wellness marketplace, was acquired by U.S.-based Thought Leaders for $13.25 million, according to a Benzinga report. Thought Leaders, a CBD and cannabis investment firm, acquired mellow’s online store, Grow; mellow’s third-party “end-to-end” cannabis service branch; and 50% of mellow’s new venture, mellow Asia.

Thought Leaders plans on launching mellow in the U.S., giving them a presence in the U.S., Europe, and Asia, the report says.

“We are excited to make today’s announcement and proud of our new partnership with Thought Leaders in the U.S. 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.” – mellow Co-founder and Director James Stories-Pugh via Benzinga

mellow co-founder Neil Tunbridge said the cannabis industry is “here to stay” and believes CBD will be “the biggest driver of the health and wellness market over the next few years.” He highlighted a study published in the Journal of Cannabis Research that revealed anxiety (43%), sleep (43%), stress (38%), and pain, and overall wellbeing (37%) were the predominant reasons people turn to CBD.

Co-founders Tunbridge and Storie-Pugh both will remain at mellow to help grow the company’s global presence while continuing to look for other investment opportunities for the group.