Scottish hemp products specialist Voyager snaps up assets of skincare maker

Scottish CBD health and wellness business Voyager has acquired a specialist maker of skincare and face serum products after the parent company went bust.

The hemp products specialist said it had bought the brands and assets of Cannafull, which is also based in Perth.

Cannafull has manufactured a range of CBD skincare products for 17 customers over the past two years, several of whom are “high profile and well-regarded participants” in the CBD industry.

Ascend Skincare, a consumer brand developed by Cannafull, supplies three face serums. The brand is stocked in outlets such as Mellow, Curate Beauty and Voyager’s own stores and is said to have received “several positive reviews”.

Perth-headquartered Voyager has a growing range of CBD and hemp seed oil products.

The parent company of Cannafull and Ascend Skincare, Cannafull Ltd, has recently gone into liquidation and Voyager's acquisition of the two brands has been made from the liquidator.

Voyager confirmed that it was not acquiring the parent company or taking on any liabilities as part of the deal. The operations of Cannafull and Ascend Skincare will be moved to Voyager’s existing premises.

Nick Tulloch, chief executive and founder of Voyager, said: “Cannafull and Ascend Skincare provide two important additions to our business.

“By combining our own expertise in formulating products with Cannafull’s manufacturing offering, we have the ability to open up a new customer base for our group in the B2B [business to business] space. Ascend Skincare is a brand we have long admired and it is highly complementary to our existing product range.

“A significant part of the purchase price includes physical assets that will be useful to Voyager’s existing operations as well as bookings to attend two trade shows in 2022. Clearly there is work to do in reinvigorating them but the modest price that we have paid for two high quality brands provides the company with what could be a meaningful upside.

“Importantly, Voyager as a whole now enters 2022 with an extended business model and a wider range of opportunities.”

In October, Voyager, which was founded in Perth in 2020, took the wraps off a new Edinburgh store.

The Stockbridge outlet combines a retail area with a cafe selling the firm’s own brand of coffees and other hot drinks. There will be the option for customers to add CBD to their hot beverage.

The store is the next step in the company’s expansion following the opening of its branch in St Andrews in July.

Voyager was founded by Tulloch, former chief executive of Zoetic International, the first CBD company listed on the London Stock Exchange.

In February, the fledgling firm raised £874,000 through an oversubscribed crowdfunding campaign on Seedrs, and in April raised a further £741,000 through a private fundraise, including a commitment of £100,000 from Greencare Capital, the Aquis-listed investment company focused on medicinal cannabis and related areas.

The firm has a growing range of CBD and hemp seed oil products, including oils, “gummies” for oral consumption, bath products and skincare products.

In May, it added a “paw balm” to its pet range, which combines organic hemp seed oil and cooling aloe vera to soothe and relieve cracked paw pads and noses.

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