Chill Brands Group PLC (LSE:CHLL, OTCQX:ZOEIF, FRA:7HR) announced the launch of a new product line to complement its CBD range.
Its tobacco-free nicotine flavour pouches, licensed from Next Generation Labs, will be stocked in shops in its extensive US retail network and online at Chill.com from the fourth quarter.
It said “highly significant” marketing and promotional initiatives are now underway.
The company believes the market for flavour pouches could grow to US$32bn by 2026.
Chill co-chief executive Antonio Russo said: "We are excited to be working with Next Generation Labs and are pleased to have secured use of its ground-breaking TFN nicotine which will greatly improve our ability to compete with traditional tobacco and vape products while complementing our current tobacco alternative line of products.
“Our existing manufacturing, distribution, and sales capabilities have enabled Chill to make a rapid entrance to this market and we are confident that we will gain a running start in this multi-billion-dollar emerging product category."