CBD-infused beverage manufacturer Bevcanna Enterprises has announced plans to form a joint venture in Europe with Vancouver-based cannabis company Mota Ventures.
As part of the proposed deal, Mota will manufacture, market and distribute Bevcanna branded products, including water-soluble powder beverage mix and ready-to-drink beverages, in Europe.
The initial commercialisation territories of the venture will be, but are not limited to, Spain, Portugal, Austria, Germany, France and the UK.
“The JV with Mota is an excellent opportunity for Bevcanna to partner with a strong, reputable brand in the global CBD category,” said John Campbell, chief strategy officer at Bevcanna.
“This agreement will leverage Bevcanna’s expertise in manufacturing infused cannabinoid products and Mota’s reputation for creating safe, effective, high-quality CBD products.
“The European health and wellness market is growing vastly, and Europeans are eager to see more reputable North American brands and options from trustworthy producers, and we’re excited to be able to provide that.”
As part of the venture, Bevcanna will provide house brands, formulations, proprietary IP for water-soluble powders, RTD marketing and manufacturing expertise. Mota will provide or source European manufacturing, marketing and distribution infrastructure.
The venture will be for an initial term of five years with a subsequent five-year renewal option.
In August, Canada-headquartered Bevcanna announced the launch of a range of cannabis-infused iced teas. The “easy-drinking” Grüv Beverages line is available in the US and Canada in two variants: ginger mint herbal iced tea and matcha green iced tea.
© FoodBev Media Ltd 2020