Denver CBD CBDD signed a letter of intent to work with a German CBD and cannabis specialist Home of CBD As a Distribution partner for Mellow.
Partnership highlights:
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Home of CBD is a Berlin-based German cannabis retailer with seven stores and additional reach across 500 locations and plans to expand its network to 2,000 locations by 2023.
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Home of CBD will offer warehousing and logistics services in Berlin and expand CBDD’s reach to Germany.
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CBDD will source international hemp-based products to market in Germany in Home of CBD stores and with its partners.
The European CBD market is estimated to be worth around $2 billion, with Germany, the largest country, accounting for $1 billion, or 50% of the market. Germany legalized medical cannabis in 2017 and has seen steady growth in patient numbers since then. The coalition government intends to make cannabis use legal for adults. A bill was promised by the end of the year, and a leaked report from October 18thth shows that Germany has big plans for the cannabis market. CBDD is making its mark in this market by establishing a strategic relationship with Home of CBD.
“This partnership marks the beginning of an already strong relationship that we hope will continue to grow. The team behind Home of CBD is one of the up and coming cannabis retailers in Germany. This agreement gives us access to the largest cannabis market in Europe and an easy go-to-market option for US brands. We also like their domestic growth plans as Germany continues to move towards a fully legal market for adult use,” said CEO Paul Gurney.
Photo: Benzinga; Sources: courtesy of Geralt, Lindsayfox via Pixabay
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