Flora Growth (NASDAQ: FLGC), a consumer-packaged goods leader and pharmaceutical distributor, has entered a joint venture (“JV”) agreement with Althea Group Holdings, a global leader in the manufacturing, sales and distribution of cannabis-based medicines and recreational cannabis products. The two companies are partnering to enter the hemp-derived beverage market and produce the next generation of beverages for the U.S. market. According to the announcement, Flora and Althea have established a 50/50 joint venture called Peak USA JV LLC with each company contributing $250,000 of operating capital. The joint venture is designed to bring together Flora’s U.S.-based CPG team with Althea’s Peak Processing Solutions, which is a recognized market leader in cannabis-infused beverages; the collaboration also leverages Flora’s brand-launching expertise and Althea’s processing experience. “Aligning with Althea instantly bolsters our credibility within the beverage sector,” said Flora Growth CEO Clifford Starke in the press release. “Their very special, world-class emulsion technology has established the very foundation of this category. Coupled with our expertise in brand development, sales, and marketing, this partnership will position us as a frontrunner in the market, setting a standard that competitors will find challenging to emulate. Our focus lies not solely on cannabis but on providing an alternative to alcohol. Our objective is to establish a nationwide brand.”
To view the full press release, visit https://ibn.fm/MMNrb
About Flora Growth Corp.
Flora Growth is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 different countries with 20,000-plus points of distribution around the world. For more information about the company, please visit www.FloraGrowth.com.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]
InvestorWire is powered by IBN