This week in hemp news: long-time cannabis player Vertical wants a piece of the CBD pie
Vertical, a California based company with offices across the United States, has recently announced they’re entering the Hemp and CBD space by creating a new brand; Vertical Wellness.
Vertical Wellness, pegged with the tagline “unleashing nature’s potential”, will have the backing of the larger Vertical conglomerate, and will therefore have access to all of the research and development that Vertical and its 250 employees have been doing in the space. The announcement is the latest in a string of press releases following the signing of the 2018 Farm Bill by President Trump which legalized that production and sale of industrial hemp in the United States.
Vertical Wellness, according to their press release, is a company mainly focused around the production and sale of industrial hemp. Vertical began heavily focusing on hemp last year; they recently harvested 100 acres ($20 million worth of the good stuff) and are processing it at their Kentucky facility. The move is an obvious attempt by the company to gain full vertical control of the market. The move to break off Vertical Wellness as a subsidiary will lend itself fortuitously to give both companies access to more investment capital.
Smoke Wallin (what a name, right??), the newly appointed Vertical Wellness CEO said, “Vertical Wellness aims to build the most dynamic and extensive portfolio of brands and products in hemp and CBD. It’s all about wellness and branding delivered with science at scale.”
At Hemp Crate, we for one are happy to have some veteran players in the space and hope that the increased attention and focus on cultivating better crops at lower costs will ultimately trickle down to cost savings and better quality products for the consumer.
We’re getting close to our targeted launch of March 1st. Make sure you drop your name the mailing list on our main page to be entered to win one of 10 free crates when we launch.