This Works skincare company will be an integral part of Canopy Growth's entry into the natural wellness industry. The company This Works®, with its headquarters in London, England, offers a range of high-quality products for skincare and sleeping solutions. The company built up a loyal following of customers buying their best-known products with a dedicated customer base across 35 countries.
London-based, This Works skincare company will be an integral part of Canopy Growth’s entry into the natural wellness industry. It will further strengthen the company’s international presence.
Canopy Growth Corporation (TSX: WEED, NYSE: CGC) completed a full cash transaction to acquire This Works skincare company for a purchase price of $55 million.
Founded in 2004, This Works has proven itself as a world leader in natural skin care and sleep solutions. Additionally, they a dedicated customer base spread across 35 countries.
This Works skincare company, has its headquarters in London, England. And they offer a range of high-quality products for skincare and sleeping solutions.
The company built up a loyal following of customers buying their best-known products. These products include ‘Deep Sleep’ sleep pillow spray, and ‘Morning Expert’ hyaluronic acid serum.
It also includes the ‘Skin Deep Dry Leg Oil’ skincare products all based on oil.
Through their unique approach to formulating solutions that work in harmony with the 24-hour body clock, This Works skincare company developed its product lines beyond a traditional point of view.
They focus on a more complete regime that the skin, and overall well-being at every stage of the day, starts with a good night’s sleep.
This acquisition is an important aspect of a versatile hemp CBD strategy.
Canopy Growth continues to build on its vertically integrated production and marketing platform. It currently covers thousands of acres of hemp production in different continents.
Additionally, they hope to build on hundreds of millions of dollars in capital investment in hemp-derived CBD production and processing. Also, they hope for a rapid expansion in the European Union and other important regions.
They also want to focus on the introduction of bringing new CBD infused products and brands into the global beauty, wellness and sleep solutions markets.
The CEO of This Works skincare company, Dr. Anna Persaud, remains at the helm of the business after the acquisition to further the company.
Since she joined the company in 2009, Dr. Persaud works hard to develop targeted skin solutions. These solutions combine the knowledge of the body clock with modern lifestyle classes, all supported by science.
This product development approach is best demonstrated by This Works’ award-winning natural sleep solutions.
This Works has 4.2 million pillow sprays sold in Europe, the United Kingdom, China and the United States since the brand’s first spray was introduced in 2011 .
Canopy Growth and This Works skincare company will continue to support all ongoing activities of This Works with an accelerated focus on global expansion and product development.
“Since 2004, This Works is committed to creating highly effective, natural skin solutions that are science-based and proven to work. We are excited about this new chapter in the history of our company and the opportunity to join Canopy Growth – the world’s leading diversified cannabis and hemp company,” says Anna Persaud.
“As a leading wellness brand and a pioneer in sleep beauty products, we are passionate about the potential that CBD beauty products offer. Canopy Growth will provide expertise, research as well as scientific accuracy and quality assurance with which This Works can be further put on the map in the ever-evolving market of wellness and beauty. “
“We believe that CBD has the potential to disrupt the cosmetics and, sleep solutions industries and has been working for years to position itself for this,” says Bruce Linton, Chairman & Co-CEO, Canopy Growth.
“As soon as we, Persaud and her team met, we knew that they were the right partner to continue to work with and to continue this journey,” says Linton.
In addition to strengthening Canopy Growth’s product offering, bringing This Works “under the canopy” will improve the company’s international footprint and operations in the UK.
Back in January 2019, Spectrum Biomedical UK joined Canopy Growth Corporation. In partnership with the Oxford-based research firm Beckley Canopy Therapeutics, they hope to meet the need for high-quality cannabis-based medicines in the UK.
Towards further growth in the future in the field of cosmetics, sleep and general wellness.
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(Featured Image By The Creative Exchange)
First published in DrugsInc., a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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