Pioneers in Plant-Based, Natural First-Aid and Body Care Join Creso’s Portfolio of Market-Leading Cannabis and Hemp-Based Pharmaceutical Brands
Sierra Sage Herbs, maker of the best-selling Green Goo, Southern Butter, and Good Goo natural products brands, announced today its acquisition by Australia’s Creso Pharma Limited (ASX: CPH, OTC: COPHF, FRA: 1X8). The deal extends Creso’s global footprint to the US market while adding a range of natural health products to its existing lines of cannabis and hemp-based pharmaceuticals. Sierra Sage, which counts 90,000 points of distribution across the US including Whole Foods, Walmart, Amazon, Target.com, CVS, Walgreen’s, Rite Aid, Albertsons, and Kroger, amongst others, will continue to operate under its existing leadership while gaining access to Creso’s R&D, manufacturing and distribution resources.
Originally founded in 2008 by sisters Jodi and Jen Scott and their mother Kathy Scott, Sierra Sage has grown from a home-based, women-run start-up to a leader in the natural health products space. Its biggest line, Green Goo, is a collection of plant-based portable first aid and body care products that are crafted using a proprietary lipid-infusion process, rather than with pre-made extracts. This unique process increases the medicinal value of its salves, making its natural healing properties some of the most potent in the market. Green Goo ingredients are organic whenever possible, are sourced using fair trade principles, and include no harmful chemicals. The company also offers a line of hemp-infused health products through its Good Goo brand and a line of intimate skincare products through its recently launched Southern Butter brand.
“My family and I started Sierra Sage Herbs because we saw a real white space in the market for naturally safe, effective, simple wound care that was both portable and accessible,” said Sierra Sage Herbs CEO and co-founder, Jodi Scott. “What started as a backyard herb hobby in Idaho has become one of the fastest-growing CPG brands in plant-based personal care, but we know there’s always more room to grow. We are thrilled to embark on this next phase in our journey as part of the Creso family and look forward to bringing an even bigger line of the quality products our fans love while continuing to serve as stewards to our environment and community.”
Creso Pharma provides a range of cannabis and hemp-based pharmaceutical, nutraceutical, animal health, and cosmetic products to markets in Europe, Asia, Africa, Oceania, and Canada. The company was one of the first to bring pharmaceutical industry expertise and methodological rigor to the world of medical cannabis, operating facilities in Switzerland and Canada. Creso Pharma shares the same commitment to quality natural products and health innovation that Sierra Sage has built its business on, and the acquisition will allow for global product expansion in all directions.
“The acquisition of Sierra Sage Herbs and the company’s product range is a major milestone for Creso Pharma,” said William Lay, Group CEO and Managing Director, Creso Pharma. “It marks entry into the US CBD market and provides a strong foundation to rapidly scale up operations, product development, and sales, as well as further M&A transactions. The Green Goo product range is well established in the US, evidenced by relationships with key retailers and over 90,000 points of sale, as well as the large direct to a consumer base that Sierra Sage Herbs has established in recent years. I would like to take this opportunity to welcome Sierra Sage Herbs to the Creso Pharma Group.”
Creso is acquiring Sierra Sage for an upfront payment of $21 million with additional future payments based on meeting sales goals for calendar years 2022 and 2023. Under the terms of the deal, Sierra Sage will also maintain its status as a certified B corp.