SOL acquires 10.3% stake in US hemp manufacturer Sacred

SOL Global Investments has acquired a 10.3% interest in US-based hemp manufacturing company Sacred Hemp, for an undisclosed sum.

Sacred manufactures hempseed oil-infused products including pain relief balms and oils, feminine products, massage oils, salt soaks, and personal lubricants.

SOL Global will assign its position in Sacred to Heavenly Rx, the company’s hemp/CBD-focused international subsidiary.

SOL Global Investments chief investment officer Andy DeFrancesco said: “Sacred Hemp’s wide range of hemp-derived products, representing numerous product categories across the cosmetics and bath and body space, is the perfect addition to Heavenly Rx’s substantial portfolio of hemp and CBD companies.

“We couldn’t be more excited to support Sacred Hemp and look forward to continued growth and innovation from its expert management team and dedicated staff.”

Sacred’s all-natural pain relief balms and lotions are made from a combination of natural hempseed oil extracts, essential oils, and menthol.

The company’s therapeutic massage oil helps to rejuvenate the sensitive skin types and can help to reduce muscle inflammation and relieve muscle aches and pains.

Sacred’s female specific products include a PMS Pain Balm as well as an all-natural feminine wash.

Sacred Hemp CEO Silvia Orizaba said: “SOL Global’s investment will help Sacred pursue Food and Drug Administration approval for its hemp seed oil-derived pain relief balms and lotions, with the aim of becoming among the first hemp companies in the US to receive FDA approval.

“SOL’s investment will also help our company fortify and expand our existing product lines, as well as ramp up our consumer outreach efforts.”