Functional Remedies ramps up production capacity, plans to boost workforce
ByWhitney Denison| Feb 27, 2019|Industry News, Local Real Estate, News
LOUISVILLE — Functional Remedies LLC, a Superior-headquartered hemp oil product maker, has expanded its lab and production facility from a roughly 5,000-square-foot space to a 25,000-square-foot space in Louisville’s Colorado Technology Center and has moved its administrative offices into a new 4,000-square-foot space in Superior.
“To say we were bursting at the seams in our smaller facility is an understatement,” Functional Remedies chief science officer Tim Gordon said.
After regulations on hemp were relaxed last year across the country, demand for Functional Remedies’ hemp and CBD products has skyrocketed, he said.
The company sells hemp supplement capsules and tinctures. It’s “one of the very few truly vertically integrated hemp supplement companies,” Gordon said. Functional Remedies’ hemp is grown by company-owned and operated farms in southern Colorado.
The production capacity growth comes on the heels of a series of new retailer and broker agreements that expand the company’s distribution network from 21 to 48 states, according to a Functional Remedies news release.
“We are excited with our rapid growth, and our latest production and office expansions will help us continue building the most-advanced operations in the industry to meet the increasing demands for our full-spectrum hemp products domestically and internationally,” Functional Remedies CEO Anthony Mazzotti said in a prepared statement.
Functional Remedies, which was founded in 2014, is currently leasing the 25,000-square-foot space in a Louisville industrial park, but the company intends to eventually purchase its own production facility. Gordon said he expects the company, which is self-capitalized and owner financed, will need a roughly 60,000-square-foot operation — “a full-on campus build-out” — within the next few years.
“We want to stay within this area, but we are still working on identifying where that could take place,” Gordon said.
It’s not just the company’s production capacity that’s growing, but also its workforce.
The company plans to hire about 45 new employees for a variety of positions in 2019, bringing the staffing total to about 120, Gordon said.
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