After dominating the US CBD market , Kentucky-based GenCanna set its sights on the burgeoning European industry .
However , with the challenging Novel Foods Application process and a host of regulations , the company decided it was best not to make the transition alone .
In an effort to sidestep the lengthy approval process , GenCanna absorbed UK-based CBD Capital .
This would not only place it at the forefront of the growing EU industry , but would also ‘ greatly facilitate ’ the expansion of one of the biggest names in CBD .
Andrew Barnett , GenCanna CEO , said : “ Our acquisition of CBD Capital widens and solidifies our leadership position across the United Kingdom , the European Union and the rest of the world .
“ We are familiar with its impressive business , which will significantly boost our ability to provide our growing customer base with deepened and broadened services .”
He pointed to CBD Capital ’ s new Rotterdam facility as a great opportunity to widen the brand ’ s reach across Europe .
The Rotterdam hub will allow next-day delivery to markets throughout the European Union , enabling the company to accelerate both market penetration and growth .
Hassan Akhtar , CBD Capital CEO said : “ GenCanna ' s formidable CBD ingredient extraction sciences and its sterling compliance track record , will greatly facilitate the expansion of several key channel strategies and market growth initiatives currently in the CBD Capital pipeline ."
The European CBD market is rapidly emerging according to a new survey from New Frontier Data , finding that Europe ’ s consumer base has positive views on CBD .
In a survey of 3,100 people , 74 percent of consumers said that CBD had ‘ positively impacted their lives ’.
GenCanna is not the only American CBD powerhouse to acquire outstanding share capital from a European brand .
Mota Ventures , a globally focused CBD product development company , saw the benefits of moving to the European market , by purchasing Stillcanna .
Stillcanna is a European-based company that focuses on industrial scale manufacturing of CBD extracts . It has grown to become one of the largest producers of THC-free CBD extracts across Europe .
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