SOL Global Portfolio Company Heavenly Rx Announces Key Leadership Appointments

Published: June 5, 2019

SOL Global Portfolio Company Heavenly Rx Announces Key Leadership Appointments

Heavenly Rx Ltd., the international hemp and CBD-focused portfolio company of SOL Global Investments Corp. announced key leadership appointments today, including bringing on two distinguished business personalities as Chief Executive Office and Chief Operating Officer: Paul Norman, former President of North America for the $13B food giant Kellogg, to serve as Chief Executive Officer and Chairman of its portfolio company, Heavenly Rx Ltd.

Mr. Norman, a global consumer products leader, who most recently served as President of Kellogg North America and SVP of Kellogg Company, will focus on the long-term strategic direction and success of Heavenly Rx. As President of Kellogg’s $9 billion North American business, Mr. Norman led the most aggressive transformation agenda in the company’s history. His multi-decade tenure at Kellogg was defined by transformation, profitable growth and shareholder value creation through strategic portfolio management, innovation and diverse talent development. Mr. Norman has deep global experience in building market-leading brands while successfully navigating complex regulatory environments, including leading the development and highly successful global expansion of such brands as Pop-Tarts, the Kashi Company and Pringles.

Heavenly Rx is also pleased to announce the appointment of Mike Beedles to serve as Chief Operating Officer and Chief Technology Officer. Mr. Beedles most recently served as President of SATO North America, President of SATO Global Solutions, and Executive Officer of SATO Holdings, Inc., a global barcode and RFID technology company publicly traded on the Tokyo Stock Exchange (TSE) with a focus on retail, industrial, and transportation logistics. Mr. Beedles is also a founding member and Chairman of the Board of Acuitas Digital, which provides innovative digital retail solutions to international companies. Mr. Beedles brings with him nearly three decades of extensive experience in supply chain logistics and over 20 years of experience building technology companies, some of which have been acquired by private and public companies. Mike’s deep knowledge and professional experience to form strategic partnerships and joint venture opportunities with companies such as Credit Suisse First Boston, Intel Capital, Softbank and Ethica Partners will be a unique asset to our growth.

“We are beyond thrilled to have someone with Paul’s experience and leadership skills as CEO of Heavenly Rx,” said Brady Cobb, CEO of SOL Global and member of Heavenly Rx’s board of directors. “With Paul’s proven track record of value-creation and exemplary portfolio management, we know he is the ideal person to steer the in-market execution of the company and its portfolio of brands as the Hemp and CBD industry continue evolving in this massive growth phase. His eye for innovation and knowledge of brand creation combined with Mike’s skills in retail, supply chain management, and forward looking vision using innovative technology for growth will ensure Heavenly Rx’s spot as a market leader. I couldn’t be more excited to welcome them both to the team.”

Heavenly Rx is the international hemp-focused portfolio company of SOL Global. Heavenly Rx holds controlling ownership interests in various industry-leading assets in the hemp/CBD and THC-free cannabinoid wellness space, with an initial focus on hemp cultivation, processing and the manufacturing of a diverse range of traditional CBD products including oils, tinctures, balms, and vape-ready products. Additionally, Heavenly Rx intends to include several proprietary brands across numerous consumer product group verticals such as cosmetics and beauty products, bath and body products, infused foods (subject to governmental approvals and/or compliance) and a number of pet-related products.

Among Heavenly Rx’s first strategic assets in the growing hemp industry is its investment in Knoxville, Tennessee-based Blühen Botanicals LLC (“Blühen”), of which they have a 50.1% interest. Blühen Botanicals is an industry-leading hemp and hemp-derived CBD biomass farming, processing, extraction and retail company headquartered in Knoxville, Tennessee. Blühen produces its own best-in-class proprietary blend of boutique wellness products at its dedicated pharmaceutical-grade hemp research facility in Knoxville. It is expected that Blühen will become Heavenly Rx’s exclusive supplier of bulk hemp-derived CBD distillates and isolate and hemp-based extracts.