The Toronto, Canada – based wellness company announced plans to purchase 4 brands from EMMAC Life Sciences Group in exchange for shares of Yooma, equivalent to $8.1m US dollars.
EMMAC Life Sciences Group, a London, England – based cannabis company, itself acquired Blossom in late January 2019. Blossom is a CBD wellness brand with topical skin care, ingestible oils, and teas in its product portfolio.
Caroline Haug and Victor Mathys founded Blossom in Switzerland in 2017. And when EMMAC bought the brand, Mathys told the press, “This is a great day for Blossom and its founders. Partnering with EMMAC allows the Blossom brand to expand, both in terms of product range and reach with the aim to drive sales in Europe of our CBD wellness products. With the EMMAC management team we share a common vision and important core values, always keeping the consumer at the forefront of our mind.”
In January of this year, Yooma began licensing 4 wellness brands from EMMAC: Blossom, MYO, Hello Joya, and What the Hemp.
Yooma buys into European cannabis market and plans to launch CBD skin care in Asia
While headquartered in Canada, Yooma is a global marketing, distribution, and sales company with offices in Shanghai, China; Tokyo, Japan; France; and the US. According to the Yooma site, the company has “particular depth and expertise in the Chinese eCommerce market.”
Ron Wardle, Co-CEO of Yooma, explains the decision to now acquire Blossom, MYO, Hello Joya, and What the Hemp in a media release circulated this month, saying, the “deal presents an opportunity for Yooma to capitalize on the massive growth in the European market, particularly in the U.K., where MYO Plant Nutrition's supplements are gaining tremendous traction with some national retailers.”
Wardle and the Yooma team also have distinct plans for the Blossom brand that rely on the company’s capabilities in Asia: “We also intend to continue our focus on China and rebrand Blossom,” he says, “with plans to launch in certain Asian markets later this year.”
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