UK based Tenacious Labs is an international cannabinoid group looking to develop a new wave of health, wellbeing and recreational brands. It has raised $10m so far this year and is undertaking an ambitious buy-and-build strategy. It aims to become the leading consumer-centric cannabinoid group globally and plans to have a stock exchange listing in five years’ time.
It plans to launch in the UK with two new brands in the coming months – Walker & Morland, a CBD brand created to help those who suffer from chronic pain and anxiety; and Hoo Raa, a CBD brand designed to help manage mood. These came after it purchased female focused wellness brand Press Pause and contract manufacturer SZM, both based in Colorado in the US.
These brands sell oils and creams, but Tenacious Labs is equally focused on the food and beverage sector.
CBD, an oil derived from the cannabis plant that can be added as an ingredient in food and beverages, has caught the public’s imagination as an ingredient offering a host of health benefits.
Studies show it may be an effective treatment for epilepsy and may prove to be an option for managing anxiety, insomnia and chronic pain.
But the CBD industry has been mired in regulatory confusion of late. In the UK, companies selling CBD products were told they needed to submit in-depth Novel Foods applications by March 2021. At the beginning of the year, the European Commission abandoned plans to classify non-synthetic CBD as a narcotic and resumed Novel Food applications for edible CBD products.