CanaFarma Corp.'s Vertical Wellness Inc has said it will introduce its ‘long anticipated’ fully developed portfolio of CBD beverages in the retail marketplace this year.
The move to retail was facilitated by last month’s merger with CanaFarma Hemp Products, a full-service hemp company offering a full range of hemp-related products and services. The cannabis conglomerate will go under CanaFarma Corp as the corporate entity but will keep the Vertical Wellness name for the brand portfolio.
Initial brand offerings will include the Vertical Wellness owned Taos and Hemp-Moji, as well as celebrity and athlete-driven wellness and lifestyle brands yet to be announced.
WATCH: Vertical Wellness merges with CanaFarma Hemp Products to increase hemp cannabinoid brand portfolio
Consumers will be able to choose from a line of CBD iced teas, CBD sparkling beverages, CBD waters, and functional Hemp shots. Products will also include Vertical Wellness’ patented Fast-Absorption technology, and other proprietary formulations ensuring the highest quality and greatest efficacy for consumers in the wellness space.
The introduction of the CBD drinks to the retail sector will allow the newly combined entity to enter the fast-growing cannabis beverage market, estimated to reach $2.8 billion by 2025.
The Vertical Wellness management team has secured national distribution partners, with an overlay of independent wholesalers and brokers to ensure their route-to-market success. The initial launch in late 2021 will focus on six US markets, with national expansion slated for 2022.
J Smoke Wallin, CEO of Vertical Wellness, and former Wine & Spirits Wholesalers of America chairman and president said in a statement: “We believe cannabis beverages will be one of the most important form factors for consumers. My criteria is the liquid has to taste great and at the same time, the cannabinoids need to be effective. Our team has worked with the world’s best flavor houses and scientists over the past three years developing these beverages to achieve exactly that. I can’t wait to get these to market!”
The merger between Vertical Wellness and CanaFarma will make Vertical Wellness the first house of CBD brands to go public. According to the company the combined worth will total more than $50 million but could be significantly higher depending on stock price post-announcement.
Despite the coronavirus (COVID-19) pandemic, CanaFarma’s March 2020 initial public offering was successful. trading up to roughly $1.50 a share driving the market cap up to $200 million.
"Building new and existing CBD brands in the beverage space opens ourselves up to many more opportunities," said Kevin Henry, VP of Brands at Vertical Wellness.
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