Yooma Wellness has acquired CBD wellness product manufacturer N8 Essentials.
Based in the US, N8 Essentials’ products incorporate CBD, cannabinoids and functional ingredients. The acquisition was completed through Yooma‘s wholly-owned subsidiary, Socati Corp. and is expected to be synergistic to Socati by adding downstream manufacturing capability to Yooma’s US-based CBD and wellness products business.
Lorne Abony, Chairman of Yooma, commented: “The acquisition of N8 serves to further Yooma’s mission to build a global CBD and wellness platform.
“This acquisition satisfies our objectives of increasing Yooma’s United States presence as well as achieving vertical integration by adding downstream manufacturing capabilities to Socati.”
The acquisition adds N8’s 14,000 square foot manufacturing facility in Kansas to Socati’s existing 22,000 square foot facility in Montana, and will reduce reliance on third-party co-manufacturing agreements, creating cost savings and improvements to production quality and consistency. Yooma says the acquisition also provides opportunities for future expansion.
“We are very pleased to be adding N8 to our global platform,” added Yooma CEO, Jordan Greenberg.
“Their expertise in manufacturing CBD products will have immediate strategic and accretive value to Socati’s existing business, and will increase our ability to satisfy the growing demand for high-quality wellness products in the United States and abroad.”
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