UK-based CBD brand Naturecan acquires Oregon production facility

April 27, 2023 · MJ Biz Daily

United Kingdom-based CBD and wellness brand Naturecan acquired the IAH Oregon cannabidiol production facility in the U.S. for 8 million pounds (roughly $10 million).

Naturecan did not specify how it would satisfy the price of the acquisition.

IAH Oregon, headquartered in Medford, previously produced the CBD used in Naturecan products, according to a news release issued Wednesday.

“Now Naturecan will ramp up production of its global supplies of CBD oils, snacks, protein supplements, vitamins and balms as well as supplying the purest CBD for other brands,” the release noted.

Naturecan touted IAH Oregon’s “industrial-scale Centrifugal Partition Chromatography (CPC) technology platform” as being capable of producing CBD distillate “with ultra low THC.”

“We will be producing hundreds of kilograms a month of CBD through our high-tech refinement methods,” Naturecan CEO Andy Duckworth said in a statement.

Naturecan said it achieved sales of 12 million pounds in 2022 and projected 2023 revenue of more than 18 million pounds.

The Stockport, England-based company is backed by former cricket champion Andrew “Freddie” Flintoff. (Full Story)

In categories:CBD International
Next Post

Awakn Life Sciences' Revenue up 534% in 2022, AUD Treatment Advances

The firm has made meaningful strides in its early clinical runway as it gears up for government-funded studies. Toronto-based Awakn Life Sciences Corp. (OTC: AWKNF), a biotech company focused on addiction treatments, reported a heft 534% rise in annual revenue for the…
Read
Previous Post

Australia’s medical cannabis sales might surpass Canada’s in near future

Australia’s medical cannabis industry continues to experience brisk growth in patients and sales, and experts say the market could even surpass Canada’s medical sector this year. Australian patients generally access medical cannabis via two government-regulated programs: the so-called Special Access…
Read
Random Post

Poll Finds 60% Support for Minnesota’s Edibles Legalization

According to a MinnPost/Embold Research poll, 60% of Minnesotans support the recently-passed law allowing up to 5 milligrams of hemp-derived THC in food and beverage products. The poll found that 21% opposed the legalization of any “edibles that get people high.”  Another 7%…
Read
Random Post

California Awards $20M in Cannabis Research Grants

The California Department of Cannabis Control (DCC) on Tuesday awarded $20 million in cannabis research grants to 16 academic institutions in the state. Rasha Salama, DCC chief deputy director, said the studies funded by the grants “will provide valuable insights…
Read
Random Post

Nasdaq warns marijuana tech firm Agrify it’s not compliant

The Nasdaq stock exchange has warned another marijuana company that it could be delisted if it doesn’t comply with the rules. Agrify Corp., a Massachusetts-based cannabis cultivation and extraction solutions company, received a notice of noncompliance from Nasdaq because the company hasn’t…
Read
Random Post

Opinion: What is a labor peace agreement, and is it good for the cannabis industry?

Cannabis companies operate in a highly competitive and rapidly changing environment, and labor disputes can have a significant impact on business operations, leading to lost revenue, reputational damage and even regulatory sanctions. Labor peace agreements establish a period when a workers’…
Read