British cannabis firm Avida Global has announced its takeover of Canna Creations and Green Stem CBD.
The acquisition sees the firm become a fully vertically integrated seed-to-sale business, now controlling the entire lifecycle of its medical cannabis oils.
White-labelling manufacturing business, Canna Creations, produces a wide range of CBD products for several high-street retailers, and Green Stem CBD is its own brand, one of only four CBD brands currently available on Amazon, and is stocked in Boots and other high street retailers.
Founder Brett Horth, will take up the position of Avida Global CEO, Australia, New Zealand and Asia and join the Avida Global board with immediate effect.
Nathan Whitman, former managing director of Canna Creations and Green Stem CBD will assume the position of MD of Avida Global Labs and Green Stem CBD.
Avida Global CEO, David Kirby, commented: “The acquisition of Canna Creations and Green Stem CBD to Avida Global marks a transformative milestone in our plans to create an innovative fully integrated seed-to-sales business.
“Both are high-quality brands in keeping with our own philosophy, and we are already building on our various synergies to create exciting opportunities globally.
“The addition of Brett Horth and Nathan Whitman to the Avida Global team is hugely exciting. They are both dynamic cannabis and CBD veterans and a bring a wealth of experience with them and a shared desire to benefit patients, customers and shareholders.”
Canna Creations will be rebranded to Avida Global Labs whilst Green Stem CBD will retain its name.
Horth commented: “I am incredibly excited not only for the opportunity for Green Stem CBD to be presented on the global stage as part of Avida Global, and being an intrinsic part of a fully vertical operation, but also for the new opportunities that await as CEO of Avida Global Australia, New Zealand and Asia.”
Whitman added: “I am honoured to join a world-class team of cannabis experts within Avida’s Global network. Canna Creations and Green Stem CBD will benefit in the now established vertical operation which enhances our in-house formulation and testing capabilities, bringing affordable premium products to a global market.”
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