Voyager Life recently announced it has acquired Cannafull and Ascend Skincare for £9000.
CBD supplier Voyager Life has made the acquisition of Cannafull and Ascend Skincare.
Cannafull, based in Perth, Scotland, has manufactured an extensive range of CBD skincare products for 17 customers over the past two years, and Ascend Skincare, a consumer brand developed by Cannafull, supplies three CBD-based face serums.
The brand is stocked in outlets such as Mellow, Curate Beauty and Voyager‘s own stores, and has received several positive reviews including a gold medal in the 2021 Free From Skincare Awards.
Nick Tulloch, Chief Executive Officer and Founder of Voyager, said: “Cannafull and Ascend Skincare provide two important additions to our business. By combining our own expertise in formulating products with Cannafull’s manufacturing offering, we have the ability to open up a new customer base for our group in the B2B space.
“Ascend Skincare is a brand we have long admired and it is highly complementary to our existing product range.
“A significant part of the purchase price includes physical assets that will be useful to Voyager’s existing operations as well as bookings to attend two trade shows in 2022.
“Clearly there is work to do in reinvigorating them but the modest price that we have paid for two high-quality brands provides the Company with what could be a meaningful upside. Importantly, Voyager as a whole now enters 2022 with an extended business model and a wider range of opportunities.”
Under the acquisition, Voyager now owns the brands and their websites and social media platforms, all fixtures and fittings and their remaining inventory. Voyager is not acquiring the parent company or taking on any liabilities as part of the acquisition.
The operations of Cannafull and Ascend Skincare will be moved to Voyager’s existing premises and management are therefore not expecting any increase in overheads.