Vertical Wellness, a company focused on innovative hemp cannabinoid products, is expanding its offerings with an acquisition of Tech-Holdings. The Los Angeles-based company is acquiring the assets of Tech-Holdings and various affiliates for between $5 millioin and $10 million in debt, equity and earnout.
"The team at Tech-Holdings, led by Steven Trenk, Tony Alfiere, and Ed Abel have accomplished what few in the industry have even thought of doing — they invented and patented novel ways of delivering cannabinoid ingredients that make them more effective and faster acting for medical ailments and conditions, within minutes, not hours,” said Smoke Wallin, chairman and CEO of Vertical Wellness. “This is a game changer and will help us differentiate our brands from the rest of the market that mostly have no or limited science to their formulations. I welcome them to our growing team."
The combination will bring together Vertical Wellness’ vertically integrated family of brands — including Kathy Ireland, Health & Wellnes Taos, Lap Dog, Par5, Halogenix, Wingra Farms, and others — with Tech-Holdings’ The Gold Q and AntiDos.
“We are delighted to bring our proprietary patented technology to Vertical Wellness,” said Steven Trnk, founder and CEO of Tech-Holdings. We talked to many of the largest players in the hemp and cannabis space in coming to our decision to join the Vertical team. Smoke's vision for a vertically integrated consumer-focused health and wellness brand company, utilizing cannabinoid ingredients to help with insomnia, anxiety and pain as well as general health and wellness, resonated strongly with our team and investors.”
The companies said that the combination will enable the launch of a comprehensive line of unique, fast-acting proprietary products to meet the needs of various consumers. Tech-Holdings’ patented technology enables Vertical Wellness to build on its partner relationships, in particular its Kathy Ireland brand.
"We are very much looking forward to launching our CBD Hemp brands with Vertical Wellness," Ireland said. "We are committed to bringing our customers the most cutting-edge and highest quality products and incorporating Tech-Holdings patented technology into our products helps to truly differentiate them in the market."
The initial releases are topical products including lotions for relief of pain and inflammation, day and night eye care, facial treatments and hand relief, the companies said.