Business
Golden Leaf Holdings Completes Eighty Percent Acquisition of Plant-Based CBD Skincare Brand, Fifth & Root
Golden Leaf Holdings Completes Eighty Percent Acquisition of Plant-Based CBD Skincare Brand, Fifth & Root.
About this update from Chalice Brands Ltd.
[{"type":"text","content":"\n PORTLAND, Ore., April 08, 2021 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) (“Golden Leaf” or the “Company”), a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, today announces the closing of its purchase of majority ownership in Fifth & Root, Inc. (“Fifth & Root”), a nationally recognized CBD skincare brand based in California. Fifth & Root is available online at www.fifthandroot.com, and in major retailers including Ulta Beauty, Nordstrom, Anthropologie and Urban Outfitters.   “The acquisition of these distribution channels greatly increases the Company’s visibility and reach, and continues to advance our “Crawl, Walk, Run” strategic approach. As we look forward to the eventual federal legalization of cannabis, Fifth & Root’s commerce platform and partnerships will position the Company favorably to capitalize on the evolving marketplace. Fifth & Root, a leader in CBD beauty, offers an exceptional line of clean and innovative products. We’re thrilled to add them to Golden Leaf Holdings’ portfolio of products and look forward to growing this brand within the burgeoning CBD skincare space,” stated Jeff Yapp, GLH’s CEO. Fifth & Root Founder and Abstrax CEO Max Koby said, “Golden Leaf Holdings has a long-standing business relationship with Abstrax and has proven they have a skilled management team, who have executed well and effectively expanded their product offerings and markets with a focus on quality. As Golden Leaf continues to expand their footprint, we hope that this new partnership will allow them to provide innovative CBD products nationwide through the largest and best beauty retail partners in the country, to consumers looking for clean beauty products that harness the power of botanicals.” The Fifth & Root brand was designed with a ‘GenZennial’ customer in mind. “We wanted to capture the vibe of the innovative and experiential formulas in the branding and packaging,” said Leilah Mundt, Founder of beauty branding and sales agency, Crème Collective. \"The formulas are bright and alive with sophisticated terpene blends that smell incredible, as well as being a ...