It is evaluating a list of potential strategic partnerships and acquisition targets and could also expand through internal growth projects
BevCanna Enterprises Inc () () (FRA:7BC) reported that it intends to further expand into the US market and is in the process of evaluating a list of potential strategic partnerships and acquisition targets.
The company also said it is considering expansion south of the border through internal growth projects and is specifically seeking strong beverage brands, manufacturers and distributors that have a wide range of capabilities and established distribution networks.
“The US market for plant-based functional beverages and consumer products is exploding. We’re seeing exceptionally strong year-over-year growth across a number of wellness categories, and as we evolve into a comprehensive health and wellness company focused on plant-based functional beverages and natural health products, we see unlimited opportunities to bring our products and expertise to this burgeoning market,” said BevCanna Enterprises CEO Marcello Leone in a statement.
READ: BevCanna executes definitive agreement to acquire Naturo including its $35M assets
He added: “BevCanna will now offer one of the most unique and diverse portfolios of beverage and wellness products within the cannabis, plant-based fulvic and humic, and natural health products categories. We plan to bring this strength to global markets, including the expansive US base.”
The company noted that one of its key initiatives is accelerating the expansion of Naturo’s market-leading fulvic and humic mineral beverage TRACE into the US market, along with BevCanna’s Anarchist Mountain all-natural ready to drink and ready to mix beverages.
BevCanna added that it will also fully leverage its recently-acquired Pure Therapy website, providing it with a proven e-commerce brand and platform to expand and launch proprietary plant-based natural products directly into the global health and wellness market, including the burgeoning US CBD market.
It also plans to leverage its growing manufacturing, branding and distribution capabilities to capitalize on the increasing consumer demand for wellness-oriented products.
BevCanna Enterprises has become a dominant player in the cannabis-infused beverages market, creating, manufacturing, and distributing cannabinoid-infused beverages and consumer products for in-house brands, as well as white-label clients.
The infused beverage operator uses patented technology to produce premium, water-soluble cannabinoid infusions using THC and CBD from both cannabis and hemp.
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