NEW YORK, Nov. 25, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- Sun Kissed Industries Inc., an emerging player in the CBD marketplace, has announced the signing of a Definitive Agreement to acquire Hakuna Supply/Products Group, Inc., a premier revenue-generating CBD-based products company located in California with over 110 established retail distribution partners across over 20 states in the domestic U.S. market.
“We couldn’t be more excited to get this deal done,” stated Carl Grant, Sun Kissed CEO. “After the LOI was signed, we faced a lot of doubters--a lot of folks who didn’t understand the nature of our commitment and vision, and the path this company is on. This deal is now done. Hakuna is part of the Sun Kissed family. It is one of the most explosively successful names in the CBD space--an award-winning brand name with a huge market footprint. And we plan to expand that brand and position this company as a truly dominant player in the space.”
The Agreement represents the acceptance of terms by both parties through which 100% of the issued and outstanding shares of Hakuna will be purchased by Sun Kissed in a deal that is scheduled to close on, or before, Dec. 12, 2019.
The company is very excited to move forward with Hakuna’s powerful and well-established package of leading consumer products spanning the premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies, and CBD Flower product markets. Hakuna is currently nominated for “Best Hemp-Derived CBD Product” by the California Cannabis Awards after winning the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017.
“This puts us in the driver's seat as a major force in the CBD market,” continued Grant. “Hakuna has established a massive distribution network and a first-class branding position. From here, it really comes down to implementation on the marketing side. The sector tailwind will be there--the growth is only expected to accelerate. We already have a differentiated market identity through this acquisition. Now we just need to push, push, push."