Sun Kissed Completes Closing on Acquisition of Award-Winning Commercial Stage CBD Company, Products Group, Inc.
New York, New York--(Newsfile Corp. - February 5, 2020) - Sun Kissed Industries Inc. (OTC PINK: SKDI) ("Sun Kissed", "SKDI", or the "Company"), an emerging player in the CBD and ancillary marketplace, is thrilled to announce that is has closed in its acquisition of Products Group, Inc. DBA Hakuna Supply ("Hakuna" or "Hakuna Supply"), 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 US market and Canada.
"I said previously that this was a deal we have been hunting for to thrust Sun Kissed onto the global CBD products market stage in a major way and I stand by that today as we close on the contract to acquire them," commented Carl Grant, Sun Kissed CEO. "Hakuna is a well-established market leader in CBD-based products with a respected distribution footprint. The company is already a major player in the space and our investment in its operations will allow it to extend its reach far beyond its current level. This is an exciting time."
The contract represents an agreement to acquire Products Group, Inc. which has been purchased through a definitive stock purchase agreement by Sun Kissed as of Wednesday, February 5th 2020.
Hakuna Supply received the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017 and their signature hemp roast coffee was nominated in the 2019 California Cannabis Awards for best CBD product . Hakuna has established high-end CBD-based products, including CBD Hemp Roast Coffees, CBD Coffee Bundles, CBD Tea Bundles, CBD Drink Drops, CBD Gummies, CBD Flower, a range of premium CBD Teas, and other premium products.
Research firm MRFR sees the global CBD market growing at better than 125% annually through 2026. Brightfield Group joins in this view, adding that 2019 alone will show over 900% expansion in total sales of CBD-based products across all related product groups.
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTC PINK: SKDI) is an emerging leader in the CBD-based products marketplace. The Company is pursuing meaningful acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in a well-defined, high-growth niche within the rapidly expanding CBD sector.
This press release may contain forward-looking statements, including information about management's view of Sun Kissed Industries Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed's future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
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