GenCanna acquires British CBD company CBD Capital
GenCanna, a supplier of CBD and other cannabinoids for bulk supply and finished goods, is buying a CBD supplier from across the pond. The Winchester, Ky.-based company is acquiring CBD Capital, a provider of CBD distillate, isolate and water-soluble bulk ingredients, as well as private- and white-label services to the United Kingdom, European Union and other global markets.
The acquisition, which will see CBD Capital CEO Hassan Akhtar remain in his current role, will enable GenCanna to broaden its bulk CBD product offering and distribution capabilities to overseas customers, the company said. CBD Capital is the second British CBD company that Gen Canna has acquired, following its purchase of London-based finished goods formulated and brand accelerator Taylor Mammon.
“The highly strategic acquisition of CBD Capital widens and solidifies GenCanna’s leadership position across high-growth CBD markets in the United Kingdom, the European Union, and the rest of the world,” said Andrew Barnett, CEO of GenCanna. “As a long-term partner of CBD Capital, we are deeply familiar with its impressive business, which will significantly boost GenCanna’s ability to provide our growing global customer base with deepened and broadened services — such as greater formulation capability and expanded finished goods versatility, in-creased supply chain flexibility, and quick-to-market turnaround. We look forward to leveraging CBD Capital’s strong industry experience and passion as we develop end-to-end, turnkey solutions that speed sales and maximize gross margin dollars for our customers.”
Among the assets GenCanna acquires is CBD Capitals recently opened facility in Rotterdam, Netherlands, which enables next-day distribution to EU markets.
“We are thrilled to join the growing family of GenCanna CBD companies,” Akhtar said. “The injection of both financial and human capital, combined with GenCanna’s formidable CBD ingredient extraction and refinement sciences, and its sterling compliance track record, will now greatly facilitate the expansion and completion of several key channel strategies and market growth initiatives currently within the CBD Capital pipeline.”
