Citrus CBD Industries, Inc., Los Angeles, has launched Peels, a line of products made with cannabidiol (CBD) derived from citrus rather than cannabis or hemp.
Founded by Chris Hetherington, an 11-year NFL veteran and Yale alumni, Peels has secured a $4 million investment from KarpReilly, LLC, a Greenwich, Connecticut-based private investment firm. Among KarpReilly’s portfolio of brands are KeVita, Spindrift, Salt & Straw, LIFEAID and Wilde, among others.
"We are thrilled to announce the investment from KarpReilly,” Hetherington said. “We believe they are the ideal partner to assist us on our mission to become the No. 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."
Peels is created with CBD proven to be molecularly identical to CBD produced by the cannabis plant. Peels CBD offers the same holistic effects, but is produced with quality, safety, and scale. It also guarantees zero THC content. Peels CBD is free from toxic impurities.
"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."