1606 Corp. (OTC:CBDW) told investors it has added over 45 products to its lineup after completing the acquisition of a 51% stake in Brio Nutrition, a profitable CBD development and distribution company.
The acquisition-based CBD company noted that Brio Nutrition's revenue was roughly $760,000 in 2021 and should grow substantially now that the partnership is complete.
"As stated before, the CBD industry is growing, albeit very fragmented. Brio Nutrition is the first of many acquisitions forecasted to close in 2023,” 1606 CEO and chairman Greg Lambrecht said in a statement. “The Brio products we are adding to the 1606 lineup can take advantage of the distribution channels already established. We intend on utilizing the Brio distribution network to introduce Truz Original and CBD Singlz. It's a win-win.”
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1606 Corp said it will have access to all Brio customer data and distribution channels for cross-marketing the 1606 line of products and is already working with the company’s CEO Shannon Shell to integrate marketing, distribution, and customer services to provide customers with a wide array of options and availability for a growing customer base.
The company said the partnership with Brio amplifies the 1606 philosophy of ‘Wellness through CBD’ by adding new product categories and usage options such as gummies, topicals, CBD for pets products as well as a variety of options for people who use CBD for stress, anxiety, and sleep issues, nicotine replacement, and PTSD.
"The reason that this partnership makes sense for Brio is because of the experience of 1606 management,” Shell added. “We feel this will guide Brio as we expand our customer base in 2023."
Brio Nutrition is a premium CBD product developer, supplier, and wellness company focused on providing the highest quality hemp derivatives and formulations for people and pets.
A spinoff of SinglePoint, 1606 Corp acquires and develops CBD brands including Truz and CBD Singlez.
Contact the author at stephen.gunnion@proactiveinvestors.com