RECENTLY-launched UK cannabinoid investment business Tenacious Labs has snapped up its second US firm as part of its buy-and-build strategy.
In a press release it announced it had bought Colorado-based contract manufacturer SZM LLC in a cash-and-shares deal.
This followed the group’s initial acquisition of fellow Colorado-based business Press Pause – a female focused wellness brand.
Nicholas Morland, CEO and co-founder of Tenacious Labs, said: “This is another important step in Tenacious Labs’ strategy to become the leading consumer-centric cannabinoid group in the world.
“This acquisition enables Tenacious Labs to not only ramp-up its production capability but also adds industry-leading expertise in product quality, regulation, marketing, and new product development.”
Now with 10 staff SZM LLC was founded by Zac Larsen in 2018 and supplies B2B customers across North America with premium hemp-derived, cannabinoid-infused products, including edibles, soft gels, pet products and beverages.
Mr Larsen will now join Tenacious Labs as Head of Wellness and Michel Defenbau, its COO, will join the group as Head of Production.
Co-founded by Adrian Clarke and Nicholas Morland, Tenacious Labs’ parent company, Delarki, has committed £9.5m in funding to support the group’s growth strategy and operations.