SOL Global Investments Corp has announced the formation of a new international hemp-focused subsidiary it has named Heavenly Rx.
The new subsidiary aims to buy up industry-leading assets in the hemp/CBD and THC-free cannabinoid wellness space, including proprietary brands in the cosmetics and beauty and bath and body spheres.
“We are launching Heavenly Rx with the aim of acquiring a portfolio of battle-tested and proven hemp/CBD companies while also acquiring certain unique brands for which we believe CBD and hemp-infused products could drastically change their growth,” added SOL’s chief investment officer Andy DeFrancesco. “We are more bullish than ever about the future of the hemp and CBD industries globally, and Heavenly Rx will without a doubt be the vertically integrated leader in the space. Heavenly Rx is not simply an investment company, but rather a laser focused global Hemp and CBD company only for all operations under the Heavenly Rx banner.”
The company’s first investment will be in Bluhen Botanicals, purchasing a 50.1 percent stake for some US$30.6 million.