Denver, Colorado–(Newsfile Corp. – October 20, 2022) – CBD of Denver (OTC Pink: CBDD) announces the signing of a letter of intent to work with German CBD and cannabis specialist Home of CBD as a distribution partner for Mellow. Highlights of the partnership:
- Home of CBD is a Berlin-based German cannabis retailer with seven stores and additional reach into 500 locations and plans to expand its network to 2,000 locations in 2023
- Home of CBD will provide warehousing and logistic services in Berlin, expanding CBDD’s reach into Germany
- CBDD will source the best international hemp-based products to market across Germany in Home of CBD stores and with their partners
It is estimated the European CBD market is ~$2B in value with Germany, the largest country at $1B or 50% of the market. Germany legalized medical cannabis in 2017, seeing steady growth in patient numbers since then. The coalition government intends to make adult-use cannabis legal for adults. A draft law has been promised by the end of the year, and a leaked report from October 18th shows that Germany has big plans for the cannabis market. CBDD is making ground in this market by forming a strategic relationship with Home of CBD.
“This partnership marks the beginning of what we hope will further an already strong relationship. The team behind the Home of CBD is one of the up and coming cannabis retailers in Germany. This arrangement gives us access to the largest cannabis market in Europe, and an easy go-to market option for U.S. brands. We also like their growth plans in country as Germany continues to move closer to a fully legal adult-use market,” said CEO Paul Gurney.
“This is part of our new multi-country strategy to form close partnerships with retailers and distributors with strong business fundamentals. The CBD industry is in a state of consolidation across Europe and this is the best time to align with the winners and cut the losers,” added Gurney.
About Mellow Enterprise
Mellow Enterprise (formerly CBD of Denver, Inc.) is a Cannabis Roll-Up company is focused on using equity to acquire profitable assets at attractive valuations to create value for all our shareholders and is driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. CBDD has been able to build a strong European customer base by focusing on top quality products and meaningful customer relationships.
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Mellow group operates as a multi-brand eCommerce Marketplace, a full-service digital & performance marketing agency, as well as a market expansion service into the Asian markets. Recently acquired by CBD of Denver, Mellow is playing a key role in expanding the CBDD business revenue streams, as well as diversifying the brand portfolio, as part of a commercial roll-up strategy. With offices in the UK and Switzerland CBDD is able to offer and end-to-end service proposition for brands wanting to enter and/or operate across the UK / EU markets, including manufacturing, production, supply-chain, distribution, eCommerce and Marketing.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141261