Rapper Berner struck liquid Gold when he launched his Hemp2o brand.
Hemp2o is a brand of hemp-infused beverages, which come in a variety of fruity flavors.
The brand has led to a sweet payoff for Berner.
Freedom Leaf Inc. earlier this week announced that it has entered into an LOI to acquire Hemp2o from Berner, born Gilbert Milam Jr.
Hemp2o, which offers eight flavors of organic hemp-infused beverages including top selling flavors “Sunset Sherbert,” “Strawberry Watermelon” and “Blueberry Apricot,” expects to generate over $2 million of revenue in calendar 2018.
Its beverages are currently sold by national retailers including selected Whole Foods and selected Target locations in Los Angeles and San Francisco as well as on Amazon.com.
The transaction, which involves a combination of both cash and Freedom Leaf stock, is expected to close in December.
The addition of Hemp2o to the Freedom Leaf family of CBD brands will expand the spectrum of Freedom Leaf products into virtually every delivery medium, adding beverages to its current SKUs of tinctures, vaporizers, and transdermal creams.
The combined companies will also benefit from consolidated production operations and economies of scale on selling through both of the respective companies’ sales channels.
Source:
