CBD wellness product company Real Brands struck a $12 million deal to acquire Boulder Botanical & Bioscience Laboratories, a manufacturer of white-label herbal supplements and CBD products, from Frankens Investment Fund.
Texas-based Frankens acquired Boulder Botanical in April, according to Real Brands’ news release.
The Real Brands acquisition of Colorado-headquartered Boulder Botanical was initially disclosed in June and a definitive agreement was announced Tuesday.
North Providence, Rhode Island-based Real Brands did not disclose how the $12 million price tag would be paid.
But the company said it’s making a $1 million operating capital commitment to Boulder Botanical, which will become a Real Brands division.
Boulder Botanical operates a 27,000-square-foot research and development and production facility in Golden, Colorado, and distributes to major retailers such as Costco, CVS, Safeway, Target, Whole Foods Market and others.
Real Brands said Boulder Botanical’s products include more than 150 “proprietary formulations spanning cosmetics, topicals, tablets, drink powders, tinctures, ointments, gels, energy shots, roll-ons, supplements, and more.”
“Boulder Botanical has had an excellent reputation for creating quality sports medicine, health and wellness herbal supplements and cannabinoid formulations and its white-label manufacturing services exceeding industry standards,” Real Brands President and CEO Thom Kidrin said in a statement.
“We expect to build upon that solid foundation.”
Shares of Real Brands trade as RLBD on the over-the-counter markets.