A UK cannabis startup has formed a lucrative partnership worth £5m with European cannabis producer Pure to distribute its products. Switzerland-based Pure and Scottish CBD supplier Always Pure Organics (APO) aim to distribute its CBD products in the UK. This deal is estimated to be worth £5m in value just in the first year alone.
Pure has been responsible for distributing CBD to manufacturers in the health and wellness, pharmaceutical, vaping, cosmetics and sports sectors in 20 out of 28 EU states. And with its new venture into the UK, it plans to expand its trade and disseminate its product throughout Britain.
Always Pure Organics supply quality hemp and CBD products to European & UK manufacturers across multiple sectors. They maintain close ties with researchers and coupled with that have an exemplary relationship with bodies such as Border Force, Customs and Trading Standards.
Commenting on the new alliance, Gavin Ogilvie, managing director of APO, said:
“Pure are a global force in the world of cannabis and hemp. It is very exciting to forge strong partnerships like this in such a young industry – together we aim to become household names in the European cannabis industry.”
Kind of a no-brainer but a large injection of cash is definitely a thing startups need to succeed. Just how much money you need can vary – maybe it’s as little as 50k or many millions of pounds. The Extract predicts more CBD startups will mushroom exponentially across the UK and worldwide. The implications of this deal is huge for wannabe startups in the green space. This is one start-up destined to succeed.