HeavenlyRx, Ltd. Acquires Majority Ownership of CBD Brand PureKana

PureKana is rapidly expanding and expects to greatly surpass 2019 sales next year.

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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--PRESS RELEASE--HeavenlyRx Ltd., a CBD Wellness company, acquired a majority share of one of the largest top-ranked CBD companies, PureKana, LLC, on Dec. 27. Under the agreement, HeavenlyRx acquired a majority ownership stake from the company's founding members.

“This is a hugely meaningful day for both HeavenlyRx and PureKana,” said HeavenlyRx CEO Paul Norman. “With PureKana, we have a flagship brand to accelerate the growth of our company.”

PureKana is a rapidly growing CBD brand with a large consumer base that leans toward a young and active demographic. Their robust line of CBD products are fully derived from organically grown hemp and can be used in foods and nutritional additives. Once harvested, their hemp is carefully processed and undergoes extraction and quality testing, creating a rich CBD oil which is infused in their product lineup that spans oils, capsules, topicals, gummies and pet products.

“Partnering with a company like HeavenlyRx has been one of our main priorities since we founded PureKana,” said PureKana CEO Cody Alt. “Our brand and product, combined with HeavenlyRx’s distribution into major markets, makes this a match in CBD heaven. Together, we’re going to deliver the highest quality products to consumers that will drive the CBD and wellness industries forward.”

PureKana’s founders Alt and Jeff Yault have led the company’s profitable revenue growth year after year across online and e-commerce channels. In 2020, PureKana is expected to have another strong year of growth as the brand benefits from HeavenlyRx’s strategic selling capabilities in mainstream brick and mortar retail environments.

“Under Cody and Jeff’s stewardship, PureKana has become one of the most successful brands in the industry,” continued Norman. “As one team, we are confident our combined resources will explode broad based sales and profit growth.”