Pasha Brands has announced the acquisition of CBD oil manufacturer CBD Therapeutics.
Pasha Brands describes itself as Canada’s largest craft cannabis brands organization, while CBD Therapeutics is said to be Canada’s largest direct-to-consumer retailer of CBD. With the upcoming legalization of cannabis edibles in Canada, Pasha Brands framed the acquisition as preparing it to take advantage of the new regulations.
"We're thrilled to have acquired one the leading CBD brands in Canada and feel Pasha will benefit from CBD Therapeutics' established client base and brand awareness, as they've made a strong name for themselves in the CBD market," said Patrick Brauckmann, Executive Chairman of Pasha Brands. "This addition to the Pasha family is yet another indication of the momentum of growth that Pasha is initiating in the new legal cannabis landscape, while remaining committed to those people and brands that operated in the pre-legalization market and who helped establish the industry in Canada."
The acquisition will also allow the company to help plug the supply shortages of products such as CBD that have proliferated following legalization. Pasha Brands said that it would re-launch the brand in the Canadian regulated market in the near future.
"Joining Pasha Brands is yet another step forward in our mission of making CBD products more accessible," said James Whitehead, CEO of CBD Therapeutics. "Working with a collective of smart, like minded individuals and brands will help open opportunities for CBD Therapeutics and aid our growth."