Heavenly Rx

About Heavenly Rx

Heavenly Rx Ltd. is a holding company focused on the hemp and CBD wellness sector, operating as a subsidiary of SOL Global Investments. Founded in 2019 and headquartered in Toronto, Canada, the company's strategy revolves around acquiring controlling interests in established and developing companies within the THC-free cannabinoid market.

The company was led by CEO Paul Norman, the former President of Kellogg North America, who brought extensive experience in building global consumer packaged goods (CPG) brands. His leadership was intended to guide Heavenly Rx in developing a diverse portfolio of branded CBD products spanning verticals such as cosmetics, beauty, bath, body, and infused foods. The business model is a "Seed to Shelf" approach, aiming to control the entire value chain from hemp cultivation and processing to the manufacturing and retail of consumer products. This includes operating its own retail locations and wellness studios to build a direct relationship with consumers.

Throughout 2019, Heavenly Rx pursued an aggressive acquisition strategy to build its portfolio. Notable acquisitions included a majority stake in Blühen Botanicals, a Tennessee-based company specializing in hemp cultivation and extraction, and TRU Brands, a plant-based nutrition company. These acquisitions were aimed at securing the supply chain and entering the infused food market. The company also acquired PureKana, a US-based CBD manufacturer, and Airganics, a wellness product company. In late 2019, Heavenly Rx announced a planned reverse takeover of Therapix Biosciences, a NASDAQ-listed pharmaceutical company, in a move to go public and merge CPG expertise with pharmaceutical research.