Voyager Life PLC (AQSE:VOY) has announced the acquisition of Cannafull, a specialist manufacturer of CBD skincare and face serum products.
The health and wellness business bought Cannafull and its Ascend Skincare brand from the liquidator for just £9,000.
Cannafull has manufactured an extensive range of CBD skincare products for 17 customers over the past two years.
Ascend Skincare supplies three CBD-based face serums, with the brand stocked in outlets such as Mellow, Curate Beauty and Voyager's own stores receiving 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.”
“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."