Canopy Growth Corporation, a Canadian CBD advocate company has acquired natural skincare brand This Works for £43m.
The deal will allow the Canadian company to develop a new range of products infused with CBD – a chemical compound derived from cannabis – in the beauty, wellness and sleep solution sectors.
We spoke to This Works founder and British Beauty Council advisor Kathy Phillips about this great acquisition, she commented:
“For many years, in my role as Beauty Director of British Vogue I tried out literally thousands of products. When I founded This Works in 2004, there were two things I felt were paramount :-
1. That our customers could experience all the positive effects of quality essential oils due to the integrity and potency of the formulas. (i.e. the products lived up to the name “This Works.”)
2. That the range tackled all the obvious modern malaises- lack of Sleep, lack of Energy, Dry Skin and so on, in a simple, understandable, modern way rooted in practicality and fact.
Looking back, This Works was always a range about ‘wellness’ before its time. Because of this, Canopy Growth seems a perfect fit. Their field of expertise is ground-breaking and forward looking and I am excited that their extensive research and scientific rigour will allow This Works to carry on producing pioneering products to an even wider audience. Harnessing the good qualities of CBD is a new horizon both for the company and for the world.”
