International personal care giant Colgate Palmolive has announced that it is set to acquire CBD oral care company, Hello Products. It is the most recent in a wave of established health brands entering the CBD space through acquisition.
Hello Products has successfully positioned itself in the natural health and beauty space since it was founded in 2012. The company’s product line includes CBD-infused toothpaste and mouth rinse, as well as toothbrushes and lip balms. It is currently stocked in over 44,000 US retail locations, including over 1,000 Ulta Beauty stores.
Colgate’s President and CEO stated:
“We have great respect for the Hello team and their impressive product line, and value the strong connection they have made with younger consumers.”
Hello Products launched its CBD range in February, following the success of its core range of all-natural products. They also offer a range of products containing hemp seed oil and hemp extract.
CBD is one of the most prominent of the many cannabinoids found in the cannabis plant. Unlike the other well-known cannabinoid, THC, it does not cause a high when consumed. However, it has been found to have a number of potential benefits to our health through its interaction with our body’s endocannabinoid system.
The most quoted of CBD’s benefits are its potential as an anti-inflammatory and anti-oxidant. It is also believed to be effective at reducing stress and anxiety and promoting sleep.
Prohibition Partners has predicted that the global CBD health and beauty industry could be worth up to $959 million by 2024. That’s up from an estimated $710 million in 2018. Many large health and beauty companies, including L’oreal and Estee Lauder, have already made moves to enter the CBD industry through the acquisition of smaller CBD companies.
It remains unclear whether Colgate is planning to distribute Hello Products globally. However, the move represents a major move for CBD into the oral hygiene space. Could CBD toothpaste be the next big thing?
Source: The Cannabis Exchange