GenCanna, a U.S.-based manufacturer of full-spectrum and broad-spectrum CBD and other high-quality cannabinoids for bulk supply and finished goods formulation, recently announced the acquisition of CBD Capital Ltd, a leading supplier of CBD water-soluble bulk ingredients, according to a press release.
In the press release, Andrew Barnett, CEO of GenCanna, stated that the acquisition will help the company expand its bulk ingredient and finished products operations in the United Kingdom, as well as other important European and global markets.
“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,” Barnett stated in the press release.
CBD Capital's recent establishment of a new facility in Rotterdam, Netherlands, will enable the company to offer next-day delivery capabilities to markets across the European Union, enabling the company to accelerate its growth and market penetration.
"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," Barnett continued, "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. This is the GenCanna way.”
Hassan Akhtar, CBD Capital's CEO, will continue in his present role after the acquisition.
“We are thrilled to join the growing family of GenCanna CBD companies,” Akhtar stated in the press release, “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.”
CBD Capital Ltd is a worldwide CBD supplier of pharmaceutical-grade phytocannabinoids to leading companies within the cannabidiol industry.
Additionally, CBD Capital has numerous sub-brand that, according to the press release, will benefit from faster product development and market growth as a result of increased resources dedicated to them.
GenCanna is based in Winchester, Kentucky and is a manufacturer of premium hemp-derived CBD and other cannabinoids in both bulk and finished goods formulations.