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Profiles

Elixinol

By Gregory Daurer | Apr 20, 2020

Cannabis & Hemp Colorado

Company Details

Location

Westminster, Colorado

Founded

2014

Ownership Type

Public

Employees

100

Products

CBD products

CEO for the Americas Tom Siciliano oversees the domestic wing of a global CBD wellness brand.

Siciliano calls Elixinol a "manufacturer and producer of CBD products in the global space."

According to a company video, Elixinol products are available in "40 countries and counting," and its global headquarters is in Australia. The chairman of Elixinol Global and co-founder of Elixinol USA, Paul Benhaim, has a long history in the hemp industry as an early promoter of hemp foods and hemp plastics. From its American base in Westminster, Elixinol serves markets across the United States and Latin America. From Spain, it manufactures and distributes products throughout the European Union.

Originally founded in Boulder, Elixinol USA now runs a processing and manufacturing plant in Louisville, as well as a fulfillment warehouse in Broomfield, where it ships out its range of products: tinctures, capsules, sports gel and balm, shampoo, and conditioner. On the horizon? "We are working on a skincare line that should be revolutionary for the marketplace," promises Siciliano.

VP of Marketing and Products Lindsay Topping says that by combining CBD with other popular wellness ingredients in some of its products, "We're able to point CBD in a direction that consumers understand -- and can find the most benefit from [the products]." For instance, the company's Stress Less contains ashwagandha, in addition to 15 milligrams of CBD. Within the company's "antioxidant" product category, its Omega Turmeric capsules contain "algae-derived DHA [that is] rich in omega-3 fatty acids."

The company also markets an "Organic Balance" tincture with full-spectrum hemp oil that's been extracted from USDA-certified organic hemp. "We are one of the first companies to create a fully USDA-certified tincture," says Topping. For that product, the company was assisted by the cultivation and production operation Colorado Cultivars, and the certification was conducted by Pro-Cert. Siciliano says Elixinol is presently at work on obtaining GMP certification for its production facility in Louisville.

Last year, sales were "just south of $20 million," says Siciliano, who counts Safeway stores as retail outlets for the brand. He adds, "We're, right now, in around 1,700 CVS [Pharmacy] stores across the U.S. We're in over 400 Albertsons locations." Elixinol also maintains an e-commerce division, and its products can be found at some yoga studios and wellness centers.

Investors can also buy shares of Elixinol Global. Siciliano says, "The company is publicly traded and listed on two exchanges: We are listed on the Australian exchange (the ASX) and then we're also listed in the U.S. on the OTC."

The company has not only undergone a recent rebranding as it prepares to launch new products, it's added new executive team members as well. Siciliano joined the company in March 2020, and Topping came aboard in late 2019.

Siciliano, who has previous experience in the cannabis space, says, "I was intrigued by what the company is doing with the product mix, by how they're approaching their business, and how they want to expand and take it to the next level."

He adds, "We have a collective group of leaders that are mission critical to making sure we offer the best products to our customers. So when you have and create that type of culture, it makes it easy for a company to be great, because the greatness starts within."

Challenges: In addition to riding out the COVID-19 pandemic -- which Siciliano says is bound to cause some "resettling and reshifting," as well as consolidation within the hemp industry -- there's the company's mission to expand the customer base for its products. Siciliano cites potential sales to people in his parents' generation: "I think that generation is starting to embrace the positive effects CBD can have on people's wellbeing and life."

Opportunities: Siciliano says, "We are well-positioned as an organization -- from a cash flow standpoint, from a strong board and a strong management team that we've brought on -- to take the company to really a new level of growth [and sustainability]."

Needs: Continuing to "embrace changes" and innovate: "We have a team of people from an R&D standpoint that are looking forward: What [does] the next six months look like . . . the next 18 months look like . . . the next three or four years look like?"

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