Multi-State Cannabis Operator Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) will bring its CBD and cannabis products to the Caribbean through an agreement with a distributor of hemp products.
On Tuesday, the Massachusetts-based company announced it had signed a distribution agreement with WB Canna Co. & Wellness, a CBD distributor and wholly owned subsidiary of Miami-based WEBB Banks, one of the leading liquor distributors in the the Caribbean and one of the first companies in the region to distribute CBD products.
Curaleaf will begin shipping its Select CBD and Curaleaf Hemp products to Puerto Rico, US Virgin Islands, Aruba, Bermuda, Barbados, Cayman Islands, Costa Rica, Guatemala, Jamaica and St. Maarten, among other Latin American markets. It will also sell to the travel retail and cruise ship market.
The company says it will benefit from WB Canna Co.’s ability to navigate legal and compliance needs across the fragmented geography of the Caribbean.
Shares of the company fell 3% to $8.33 on Tuesday on the Canadian Stock Exchange.
Read more: Curaleaf posts record revenue of US$1.2 billion for fiscal year 2021
Read more: Curaleaf expands its presence in Arizona with the acquisition of Bloom for $211 million
WB Canna Co. COO Phillip Jarrell said that since early last year after the company launched, they have seen interest and enthusiasm for CBD products in the Caribbean and in Latin America.
“We believe that consumer demand for high-quality CBD products will continue to grow year over year, and we remain focused on brand recognition and brand loyalty,” said the Vice President of CBD. , Health and well-being at Curaleaf Joseph Gennaro. .
“Therefore, our agreement with WB Canna Co. marks a key inflection point in the go-to-market strategy of our CBD business and demonstrates our commitment to achieving international growth.”
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