CBD for Life Acquired for $10.4 Million & Rapidly Expanding Operations

Operational Moves Included New Headquarters, New Retail Partnership with Dillard’s and Additional Wholesale Growth

Red Bank, New York based cannabis company, CBD For Life has moved its office from its founder’s home into the Galleria in Red Bank after being acquired by iAnthus Capital Holdings in a $10.4 million acquisition of CBD For Life in late June, the second time the company has merged with a Beth Stavola company. Stavola, a New York resident, says the company has begun hiring fast adding to her team of two dozen employees and is trying to keep up with an expansion that includes up to 25 new retailers each week.

The brand has most recently signed on with Dillard’s Inc. who last week said it would sell CBD For Life’s wellness and beauty products in all 265 of the brand’s department stores.

Beth Stavola, co-founder of CBD For Life, expects explosive growth with many looking to capture a piece of the growing demand for cannabidiol and CBD Oil.

The CBD For Life brand makes CBD-infused creams, liquids and sprays. Their distribution model includes direct to consumer sales via the brands website as well as a stockist list over over 1,000 brick and mortar locations selling the product through the United States.

Beth Stavola is not new to iAnthus, the company who acquired CBD For Life. She previously led MPX Bioceutical Corp., which had operations involved with the Arizona medical marijuana market. That publicly traded company was acquired by iAnthus in February of 2019. The deal was valued at $845 million in stock at the time of closing and expanded the total operations for the company with cultivation and cannabis sales encompassing 10 states. At the time of acquisition of MPX Bioceutical Corp.,  Stavola was named chief strategy officer of iAnthus.

CBD For Life seems to have found a new market with apparel stores. In addition to Dillard’s the brand has signed a deal to sell its products in Urban Outfitters as well.

iAnthus owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. iAnthus currently has operations in 11 states, and operates 23 dispensaries (AZ-4, MA-1, MD-3, FL-5, NY-2, CO-1, VT-1, and NM-6 where iAnthus has minority ownership).