Jack Smith
Privateer Holdings announced it has acquired The Goodship, an iconic brand of cannabis edibles, to boost its offerings as consumers increase their appetite for cannabis-infused goods.
Founded just three years ago by entrepreneur Jody Hall, The Goodship has gained national attention for its products, appearing in a number of websites, including Vice, Forbes and Money Magazine.
“I founded Goodship to celebrate the ways that cannabis can promote creativity and help bring people together,” said Hall in a press release. Prior to Goodship, Hall founded Seattle’s Cupcake Royale bakery and was one of Starbucks first marketing employees.
Goodship makes a number of cannabis-infused products, coming into the limelight at a time when the market for legal cannabis-infused goods is exploding.
According to a report from Brightfield Group, a cannabis investment research firm, the international market for cannabis-related products is expected to hit $31.4 billion by 2021, up from $7.7 billion today.
Seattle-based Goodship makes products like chocolate bars, cookies, brownies and other confectionary products. The company boasts its products are made from “all-natural, sustainable, and locally sourced ingredients with organic and fair-trade chocolate,” helping its appeal to potential consumers. Goodship’s products can be found in 178 locations all across the state of Washington.
By joining Privateer Holdings, whose other cannabis-related products include Leafly, one of the top cannabis websites and Marley Natural, a premium cannabis lifestyle brand, Hall said Goodship can use the additional resources to expand.
“As a part of the Privateer Holdings family of brands, we now have the resources, capital and expertise to create new confections, test innovative flavors, host even more exciting events — and bring our products to adult consumers in new markets,” she added in the release.
Privateer Holdings CEO Brendan Kennedy said he was attracted to Goodship because of its products.
“We were instantly drawn to The Goodship because their team is already setting and exceeding the standard for what a cannabis edibles brand should be,” Kennedy said. “This is an exciting time to be in the cannabis industry, and we’re looking forward to working together to develop innovative products and bring Goodship to new legal markets across North America.”
Privateer has raised more than $150 million to invest in cannabis brands and has more than 500 employees across the U.S. and 7 other countries.
