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Creso Pharma to enter U.S. CBD market with acquisition

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DENVER — Creso Pharma Limited has entered the U.S. CBD market, following the acquisition of Colorado based consumer packaged goods company, Sierra Sage Herbs (SSH). The acquisition provides Creso Pharma with its maiden entry into the U.S., an established product suite of plant-based and CBD products generating strong revenues, as well as an existing 90,000 points of sale with major retailers and over 150,000 direct to consumer relationships in one of the world’s largest and fastest growing markets. SSH anticipates that it will add an additional 20,000 points of sale with key retailers over the coming months, providing Creso Pharma with a significant opportunity to further scale sales growth.

Group CEO and managing director, William Lay said: “The acquisition of Sierra Sage Herbs and the company’s product range is a major milestone for Creso Pharma. It marks entry into the US CBD market and provides a strong foundation to rapidly scale up operations, product development and sales, as well as further M&A transactions.”

“The Green Goo product range is well established in the U.S., evidenced by relationships with key retailers and over 90,000 points of sale, as well as the large direct to consumer base that Sierra Sage Herbs has established in recent years.

“We intend to aggressively leverage these relationships and the group’s existing customer base by introducing them to Creso Pharma’s existing product suite for human health, animal health and sports and recovery.

“Creso Pharma is expected to benefit from SSH’s existing revenue streams. We expect SSH’s products sales to continue growing significantly in coming years, and the transaction implies material accretion on several metrics for Creso Pharma. Coupled with our existing sales channels, we have the potential to significantly grow our earnings profile in the near term.

“I would like to take this opportunity to welcome Sierra Sage Herbs to the Creso Pharma Group.”

Sierra Sage Herbs CEO and co-founder, Jodi Scott added: “We started this company because we knew that plant-based alternatives could do more. We combined our passions for science, wellness, herbology, and wound care into a line of safe, effective all natural products and so began our journey to change first aid as we knew it.

“That seed has become one of the most disruptive CPG brands in personal care – and this is just the beginning. Our team has developed strong operations while building a robust product development capacity and expanding retail relationships exponentially. This partnership with Creso will set the stage for accelerated growth across multiple categories. Together, we will be able to expand portfolios and make synergistic acquisitions in even more meaningful ways.

We are thrilled for this next phase in our journey as part of the Creso family and look forward to continuing our tradition of developing high-quality, non-toxic, incredibly effective products that our customers love, while continuing to preserve our mission of spreading goodness globally.”


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