Medterra, Acreage enter joint venture
Acreage Holdings, a vertically integrated, multistate operator of cannabis licenses and assets in the United States, announced that its subsidiary, Universal Hemp, reached an agreement with Medterra CBD. The partnership allows Acreage Holdings to tap into Medterra’s innovation pipeline, high-quality CBD and significant e-commerce platform for immediate nationwide distribution.
Medterra subsidiary Five Farms CBD will develop a full-spectrum CBD collection under The Botanist, an Acreage Holdings brand. The companies said the partnership marks the first time in the cannabis industry that a CBD and a publicly traded cannabis brand have collaborated. J.P. Larsen, co-founder of Medterra and president of Five Farms, said this is “the future of CBD and cannabis companies.”
Acreage will license The Botanist brand to Five Farms, which will manufacture, market and sell The Botanist branded CBD products through Medterra’s e-commerce platform. The Botanist branded CBD is expected to be available in the second half of 2021.
