BR Brands™ Announces Resignation of Mary's Brands™ CEO Lynn Honderd
GREENWICH, Conn., Aug. 29, 2019 /PRNewswire/ -- BR Brands, LLC ("BR Brands"), a consumer packaged goods ("CPG") company within the global legal cannabis industry, announced today that Mary's Brands™ co-founder and CEO, Lynn Honderd, has resigned as CEO and will partner with the organization as a strategic advisor. The decision is fueled by Honderd's desire to spend more time closer to home and with family.
Mary's, co-founded by Honderd in 2013 and known for its award-winning transdermal technology found in its cannabis patch and transdermal dispensing gel pen, was born out of a desire to transform how people view and utilize cannabis by developing products that isolate the benefits of cannabinoids and other vital plant extracts. Under Honderd's leadership, Mary's went from one SKU to over 75 SKUs, building a global powerhouse of brands including Mary's Medicinals, Mary's Nutritionals, Mary's Methods and Mary's Tails.
Honderd will continue her relationship with Mary's as a strategic advisor, focusing on international expansion, key partnerships, innovation, education efforts and continuing to speak on the company's behalf. BR Brands has initiated a search for Honderd's successor as CEO.
"After starting Mary's six years ago and leading the charge from the trenches, I'm excited to step back from the day-to-day operations and still have the opportunity to support the organization from a new vantage point," said Lynn Honderd, Mary's Brands co-founder and CEO. "As the cannabis landscape evolves at a rapid pace, Mary's is poised to become a global leader by continuing to educate consumers and introduce high quality, innovative products to the market. I am committed to helping the company navigate the changing landscape and assist in taking it to the next level. My proudest achievement is taking Mary's from an idea and turning it into a global household name."
"It is with the same passion and perseverance that Lynn founded Mary's that we will continue to focus on the organization's growth and positive impact to people and families globally," said Andrew Schweibold, Chairman of BR Brands. "We have immense gratitude for Lynn and her tireless work to establish Mary's as the preeminent cannabis brand it is today. We are fortunate to have Lynn continuing on with Mary's in her new capacity and we will continue to rely on her vast experience and myriad of strengths. Lynn's knowledge of the industry is unmatched and, with her help, Mary's will continue to be an industry leader."
BR Brands recently announced the first closing of its Series A capital raise backed by its strategic capital partner, Rose Capital. In conjunction with this closing, BR Brands acquired the remaining capitalization of Mary's Brands, making it one of the largest private CPG acquisitions to date within the U.S. cannabis sector. 1
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1 According to the Capital Raise Tracker of Viridian Capital, an industry leading advisory firm and investment bank.
SOURCE BR Brands, LLC; Mary’s Brands