Canadian pot company Cronos said Friday it is buying access to the CBD market in the U.S. by acquiring Redwood Holding Group, the firm behind popular CBD beauty brand Lord Jones, for $300 million.

Redwood operates mainly through its Lord Jones brand, which sells CBD-infused lotions, gummies, bath salts and oils. Lord Jones was the first CBD brand to land a spot in beauty retailer Sephora.

The deal gives Cronos a foothold in the fast-growing U.S. CBD market, where consumers are clamoring for beauty products, foods and oils containing the cannabis compound. Congress legalized hemp-derived CBD late last year, making retailers more comfortable with stocking the products.

Shares of Cronos rose nearly 9% Friday, closing at $13.84.