SAN DIEGO – Hempacco Co, Inc. (NASDAQ: HPCO), a known player in the nutraceutical industry, has taken a significant step to enhance its manufacturing capabilities and customer reach by acquiring a portion of the assets of Covalent CBD, a leader in white-label and private label nutraceuticals. This move is expected to strengthen Hempacco’s position in the growing hemp and mushroom supplement sectors.
Covalent CBD’s reputation for a broad client base and a robust procurement network in the nutritional supplement market, particularly within the hemp industry, positions Hempacco to broaden its service offerings. The acquisition is aimed at expanding Hempacco’s production capacity, client network, and supplier base, which could potentially accelerate the company’s growth and innovation within the nutraceutical space.
Sandro Piancone, CEO of Hempacco, commented on the acquisition, “This acquisition should be a game-changer for Hempacco, allowing us to leapfrog our capabilities in hemp and mushroom product manufacturing.” The integration of Covalent CBD’s assets is anticipated to not only expand Hempacco’s production but also to enhance sales and supplier networks.
Kelly Ann Lewis-Bortman, President of Covalent, expressed enthusiasm about the partnership, stating, “Our combined strengths in innovation, manufacturing, and customer service will enable us to deliver unparalleled value to our clients and set new standards in the industry.”
The acquisition will enable Hempacco to offer white-label and private label R&D and manufacturing, specializing in intellectual property-driven projects. These include mushroom extraction using water and magnets, beverage and shot R&D, gummy production with various cannabinoids, and manufacturing of pills, capsules, tinctures, and other nutraceuticals using Hempacco’s intellectual property. Additionally, the production of Hemp Blunts smoking paper is included in the acquisition.
Hempacco’s portfolio includes the manufacturing of smokables, hemp rolling paper, and cannabinoid sticks, as well as the development of smokable technology. The company also owns The Real Stuff™ brand of functional smokables and rolling paper and has partnerships with notable personalities such as Cheech and Chong, Rick Ross, and Snoop Dogg for hemp-derived products.
The information reported is based on a press release statement.
