Press Release: Tenacious Labs accelerates growth strategy with acquisition of SZM LLC
London, 19th May 2021: Tenacious Labs, a pioneering, international cannabinoid group championing scientific rigour, effective regulation, and product quality, is delighted to announce the latest milestone in its ambitious buy-and-build strategy with the acquisition of Colorado-based contract manufacturer SZM LLC in a cash-and-shares deal. The acquisition of the 10-employee-strong brand follows the group’s maiden acquisition of Colorado-based, female focused wellness brand Press Pause in April 2021, and represents a significant step in the group’s international growth strategy.
Founded by Zac Larsen in 2018, SZM LLC operates out of its high-quality facility, and supplies B2B customers across North America with premium hemp-derived, cannabinoid-infused products. The brand’s highly experienced team are responsible for the formulation, production and packaging of products in house, including edibles, soft gels, pet products and beverages.
With one of the newest facilities in the industry, designed specifically for large-scale manufacturing, the acquisition represents a significant milestone for the group which now owns, for the first time, a wholly owned and operated end-to-end production line. In line with its ambitions to become one of the leading consumer-centric cannabinoid groups in the world, this will help support the growth and scale-up of Tenacious Labs’ portfolio of consumer brands.
As a part of the acquisition, SZM LLC CEO, Zac Larsen, will join Tenacious Labs as Head of Wellness and will be responsible for the development and sales of all products outside of the Press Pause lifestyle portfolio. Meanwhile Michel Defenbau, currently COO at SZM LLC, will join the group as Head of Production, bringing 35 years’ experience in production and manufacturing. Together with the SZM LLC team, Zac and Michel also provide the group with industry-leading expertise in the regulatory space.
Zac Larsen, Tenacious Labs Head of Wellness and Founder and former CEO of SZM LLC
Nicholas Morland, CEO and co-founder of Tenacious Labs, commented:
“This is another important step in Tenacious Labs’ strategy to become the leading consumer-centric cannabinoid group in the world. This acquisition enables Tenacious Labs to not only ramp up its production capability but also adds industry-leading expertise in product quality, regulation, marketing, and new product development.”
Adrian Clarke, Chief Commercial Officer and co-founder of Tenacious Labs, commented: “I’m delighted to welcome Zac, Michel and the team at SZM LLC to Tenacious Labs. With this, our second acquisition, we’ve significantly strengthened our North American operations to include a world class production facility, which will help support our ambitious global growth strategy.”
“We continue to see significant potential for further acquisitions as we execute our ambitious strategy and are actively appraising a number of further opportunities that will strengthen our position, increase our scale and integrate industry-leading expertise into the group.”
Co-founded by Adrian Clarke and Nicholas Morland, Tenacious Labs is a pioneering international cannabinoid group championing scientific rigour, effective regulation and product quality. To date, Tenacious Labs’ parent company, Delarki, has committed £9.5m in funding to support the Group’s growth strategy and operations.
Michel Defenbau, Tenacious Labs Head of Production and former COO of SZM LLC
ENDS
For more information contact Alex Brennan, Andy Richards or Leah Albohayre at Hudson Sandler – +44 (0)20 7796 4133 or tenaciouslabs@hudsonsandler.com
About Tenacious Labs
Tenacious Labs is a pioneering international cannabinoid group championing scientific rigour, effective regulation and product quality. Tenacious Labs aims to bring clarity, understanding and unwavering trust to cannabinoid use and the opportunities it provides.
Designed by industry experts and founded by those with a genuine need for cannabinoid products, Tenacious Labs' strategic goal is to be the leading consumer-centric cannabinoid group in the world. A commitment to sustainability is at the centre of our business and we work closely with partners and suppliers in the UK and abroad that align to our values of product quality and transparency.
With a portfolio of exciting, growing brands each with unique customer values and identities, the group is helping shape the next phase of growth in the regulated global cannabinoid sector. The group strives continuously to evolve its product offering in line with customer feedback which guides product formulations and enhancements.
The group is headquartered in London with offices in Miami and Denver.
