- Creso Pharma (CPH) has acquired Sierra Sage Herbs for an upfront payment of $21 million with additional future payments based on meeting future sales goals
- The deal extends Creso’s global footprint to the US market
- Sierra Sage will continue to operate under its existing leadership
- Creso Pharma provides a range of cannabis and hemp-based pharmaceutical, nutraceutical, animal health and cosmetic products to markets in Europe, Asia, Africa, Oceania and Canada
- Creso Pharma Ltd. (CPH) is trading at AUD$0.051 per share at 2 pm ET
Sierra Sage Herbs has been acquired by Creso Pharma Limited (CPH).
The deal extends Creso’s global footprint to the US market while adding an additional range of natural health products to its existing lines of cannabis and hemp-based pharmaceuticals.
Sierra Sage, which counts 90,000 points of distribution across the US including Whole Foods, Walmart, Amazon, Target.com, CVS, Walgreen’s, Rite Aid, Albertsons, and Kroger, amongst others, will continue to operate under its existing leadership while gaining access to Creso’s R&D, manufacturing and distribution resources.
Originally founded in 2008 by sisters Jodi and Jen Scott and their mother Kathy Scott, Sierra Sage has grown from a home-based, women-run start-up to a leader in the natural health products space.
“My family and I started Sierra Sage Herbs because we saw a real white space in the market for naturally safe, effective, simple wound care that was both portable and accessible,” said Sierra Sage Herbs CEO and co-founder, Jodi Scott.
“What started as a backyard herb hobby in Idaho has become one of the fastest growing CPG brands in plant-based personal care, but we know there’s always more room to grow. We are thrilled to embark on this next phase in our journey as part of the Creso family and look forward to bringing an even bigger line of the quality products our fans love while continuing to serve as stewards to our environment and community.”
Creso Pharma provides a range of cannabis and hemp-based pharmaceutical, nutraceutical, animal health and cosmetic products to markets in Europe, Asia, Africa, Oceania and Canada. Creso Pharma shares the same commitment to quality natural products and health innovation that Sierra Sage has built its business on, and the acquisition will allow for global product expansion in all directions.
“The acquisition of Sierra Sage Herbs and the company’s product range is a major milestone for Creso Pharma,” said William Lay, Group CEO and Managing Director, 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 US, 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. I would like to take this opportunity to welcome Sierra Sage Herbs to the Creso Pharma Group.”
Creso is acquiring Sierra Sage for an upfront payment of $21 million with additional future payments based on meeting sales goals for calendar years 2022 and 2023.
Committed to making the best all-natural, plant-based skincare products, Sierra Sage Herbs, now part of Creso Pharma, is on a mission to spread goodness, empower change and redefine natural body care.
Creso Pharma Ltd. (CPH) is trading at AUD$0.051 per share at 2 pm ET.
