Kadenwood LLC, a company that manufactures and sells cannabidiol (CBD) as a lifestyle product, announced Wednesday that it will acquire Colorado-based EcoGen Laboratories, a major producer of hemp-derived CBD.

The acquisition, according to Kadenwood, “effectively establishes Kadenwood as the largest supplier of vertically-integrated, hemp-derived” CBD in the United States. CBD is a non-intoxicating extract from hemp, which can also be derived from cannabis, and is often used to treat conditions like anxiety and chronic pain.

Kadenwood is valued at about $180 million, and with EcoGen added to its portfolio will increase to approximately $250 million, according to Kadenwood.

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