Colgate Was Drawn To Hello Products’ Youthful Lifestyle Branding, And Now It Has A CBD Line
Successfully acquired by Colgate-Palmolive on 31 January, Hello quickly made a statement with the launch of a CBD oral-care range and its first go at lip care, CBD Vegan Lip Balm. Available exclusively through Ulta Beauty, the CBD products have the potential to score well with younger consumers interested in natural ingredients, eco-friendly packaging and, of course, cannabis-based innovations.
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Colgate agrees to purchase Hello Products direct-to-consumer oral care brand, complementing its Colgate brand and its Tom’s of Maine natural-positioned line. The firm will pay with a combination of cash and debt in the deal expected to close no later than the end of February.
Plaintiffs against Florida-based Green Roads used certificates of analysis the company makes freely available to consumers to determine that batches of two of the company’s products contained “significantly” less cannabidiol versus labeled amounts. A Florida federal court rejected the firm’s motion to dismiss, but it is interested in seeing how FDA rulemaking develops.
Back in April, CEO Noel Wallace noted Colgate’s interest in further skin-care M&A during his first quarterly presentation at the firm’s helm. The Filorga purchase is significantly bigger than 2018 deals that whet Colgate’s appetite for high-growth, high-margin skin care and represents a gateway to the fast-growing travel retail channel.