A global investment group is making a $30.6 million investment in Knoxville-based hemp cannabidiol company Blühen Botanicals, which is opening a location in Knoxville’s Old City.
“This investment from SOL Global, one of the biggest players in the global cannabis and hemp ecosystem, gives us the firepower to accelerate our growth strategy, and take advantage of the significant opportunities we see right now in the United States and around the world,” said Joe Fox, Blühen Botanicals’ Co-Founder and CEO. “The SOL Global team sees Blühen as a critical element in their aggressive CBD market expansion plans. Their investment in our vision provides us the confidence and capital to empower our success and longevity.”
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The investment will allow Blühen Botanicals to expand across the country and will make the company the exclusive supplier of bulk extracts to HeavenlyRx.
Blühen Botanicals’ growth plan includes opening wellness-focused retail locations around the country, starting with a flagship location in Knoxville’s Old City. The next location will be in Ft. Lauderdale, Florida.