Hemp-infused beverage company, Good Hemp, has closed the acquisition of Diamond Creek Group a manufacturer of ionised high alkaline natural spring water.
According to sources, the acquisition of Diamon Creek is part of the distribution expansion plans of Good Hemp. The growing demand of functional water is expected to reach $18.24 billion by 2025.
Ken Morgan, founder of Diamond Creek, said: “I am very excited about the closing of the acquisition with Good Hemp, Inc. I have spent over a decade building this business and connecting with customers looking for a quality hydration solution. Through this acquisition, Good Hemp is positioned to take Diamond Creek to the next level, and I am thrilled to remain part of the team.”
“We believe that with current Diamond Creek sales alone, we can increase our FY 2021 revenue by greater than 500%. Pair that with a fine-tuned marketing team under our hood, and we are off to the races – pun intended,” commented on the acquisition Bill Alessi, CEO of Good Hemp.