Aug 20 (Reuters) – California-based Kadenwood LLC said on Thursday it would buy EcoGen Laboratories as it looks to tap into rising demand for hemp-derived cannabidiol (CBD) products, while creating an integrated supplier worth about $250 million.

CBD, a derivative of the cannabis plant, is believed to ease anxiety and other ills without the high of its close cousin, marijuana. The product is legally allowed to be sold throughout the United States and can be infused with food and drinks.

The deal will help Kadenwood, which grows its own hemp and sells packaged products derived from it, gain access to EcoGen’s industrial-scale capacity for making ingredients and extracts.

 

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