Edison Nation To Buy HMNRTH Nutraceutical's Line Of CBD Products

Full-service product development firm Edison Nation Inc. (NASDAQ: EDNT), announced Thursday that it will acquire HMNRTH Nutraceutical’s line of cannabidiol health and wellness products.

The terms of the deal were not disclosed.

HMNRTH is a full-spectrum hemp-derived company with a CBD product line that includes a variety of oral sprays and topical ointments — some designed for a specific time of the day — as well as joint and muscle creams, according to a press release. 

HMNRTH products formulated for morning use contain natural caffeine that should boost consumer’s energy, and those designed for evening relaxation contain melatonin.

The products are regulated by third-party lab testing, consist of 100% hemp-derived CBD and are in compliance with FDA and GMP standards, the company said.

“The expansion into Nutraceuticals and consumables has been a strategic goal for us over the last year,” Edison Nation CEO Christopher Ferguson said in a statement.

“HMNRTH is the first acquisition in the consumables arena, and we look to leveraging our innovation platform to expand the brand and product lines to identify other synergistic opportunities in the consumables category.”

The U.S. CBD market is projected to reach $23.7 billion by 2023, according to a Brightfield Group research report, which should set Edison Nation up for expansion and sales growth, the company said. 

The stock was down 1.91% at $2.05 at the time of publication Thursday.