Los-Angeles based CBD startup ‘Peels’ Citrus CBD Industries, Inc. has secured a $4 million USD investment from KarpReilly, LLC., a Greenwich, CT-based private investment firm, with a diverse portfolio of emerging brands in the consumer sector.
The investment will be used by Citrus CBD to further develop and promote their innovative CBD brand Peels that uses orange peel as the key ingredient for the production of CBD.
Peels is a groundbreaking Citrus-Derived CBD product line that is created with uniquely pure, nature-identical CBD. Scientifically proven to be molecularly identical to the CBD produced by cannabis plants, Peels CBD offers the same holistic effects, but is produced at a superior quality, safety, and scale. Made from terpenes found in citrus peels, not cannabis or hemp, guarantees zero THC content. It’s also guaranteed to be free from toxic impurities.
Citrus CBD’s CEO Chris Hetherington commented on the deal, “We are thrilled to announce the investment from KarpReilly. We believe they are the ideal partner to assist us on our mission to become the #1 trusted CBD brand on the market. They have an impressive track record of scaling consumer brands. With their investment and expertise, we now have greater resources to maximize our vision and empower our growth.”
KarpReilly, LLC is a private investment firm, founded by Allan Karp and Chris Reilly, whose primary mission is to partner with premier small to mid-size growth companies and help them achieve their long-term vision. KarpReilly currently manages funds and affiliates with capital commitments in excess of $500 million. Over the past 15 years, the principals of KarpReilly have invested in, sat on the boards of, and nurtured over 40 growth companies with notable food, beverage, and natural products including: KeVita, Spindrift, Salt & Straw, LIFEAID, and Wilde, among many others.
“Peels has an incredibly unique set of products and approachable brand that can help them stand out in a crowded CBD space and navigate the complex regulatory environment,” said Drew Skolnik, Principal at KarpReilly. “We are excited to partner with impressive, passionate, and mission-driven founders like Chris and his team.”
Peels products, which are unrivalled in purity and taste, check all the boxes for consumers seeking safe, effective, and reliably formulated CBD products. By offering CBD from a non-hemp, non-cannabis source, Peels’ goal is to make it easier for consumers to access this compound’s amazing benefits.
Hetherington added, “Peels was created to meet the growing consumer demand for CBD without the risks associated with hemp and cannabis CBD products. We believe everyone deserves to feel and perform their best. But the pursuit of doing so should not include risky solutions.”