SOHH Squad
The world is quickly becoming more and more CBD-friendly. New reports claim Alkaline88 maker Alkaline Water Company is acquiring AQUAhydrate and ultimately put out a line of CBD-infused products.
According Cannaramic, the power move will have both major brands narrowing in on target consumers and lifestyles.
Beyond CBD products, Alkaline is working on other offerings including flavored waters. The idea going forward is to create differentiated brands to target diverse demographics. The Alkaline88 line will be focused on families, while AQUAhydrate will target active lifestyle consumers and athletes. “The AQUAhydrate and Alkaline88 brands align well and will support exciting innovations in flavors, sparkling and CBD products.” (Forbes)
Since exploding onto the market the past few years, CBD has grown in popularity throughout the nation.
Overall CBD use, according to the tweets collected, seems to be more popular in the western portion of the country. But as usual, Florida found itself at the center of the national stage, this time as having the most tweets about cannabidiol usage. According to the DankGeek data, Florida accounted or 19% of the total CBD-focused interactions on Twitter over the past four weeks. (Observer)
AQUAhydrate has blown up in recent years notably from partnering up with celebrity supporters including music mogul Diddy, Jillian Michaels and Mark Wahlberg.
As part of the deal, Alkaine Water will retain all three celebrity backers, Diddy, Michaels and Wahlberg, to endorse the company and its brands. Diddy and Wahlberg will also remain investors in The Alkaline Water Company; they have already invested more than $20 million to develop the AQUAhydrate brand. (Forbes)
Over the past few years, both Diddy and Wahlberg have invested millions into AQUAhydrate.
Alkaline Water Co. Inc. announced Tuesday that it has entered into an all-stock deal to acquire Aquahydrate, a water brand that’s backed by Sean “Diddy” Combs and Mark Wahlberg. The two celebrities invested more than $20 million into the development of Aquahydrate. In a statement, Alkaline said the company expects combined fiscal 2020 revenue of $65 million. Alkaline’s sales during the last fiscal year were $32.3 million. FactSet forecasts sales of $48.6 million for fiscal 2020. The deal will help Alkaline move further into the areas of “premium water,” wellness and CBD products, said Richard Wright, the company’s chief executive, in a statement. (MarketWatch)
