CBD producer with European aspirations inks deal to buy Swiss retailer

A CBD and hemp-oil manufacturer in Colorado has inked a deal to buy a CBD retailer in Switzerland, its second planned purchase of a Swiss company announced this month.

CBD of Denver said Monday that it had signed an acquisition agreement with Royal Green GmbH. Terms of the acquisitionm were not disclosed.

The Swiss CBD outlet operates a full-service retail store with annual revenues estimated at $600,000 to $700,000, CBD of Denver CEO Marcel Gamma said in a statement.

Royal Green has an online store and plans to open a new store in Zurich, Gamma said.

Earlier this month, the company said it expects to close on the purchase of a second Swiss company – CBDWelt24 GmbH and its two hemp cultivation facilities – by the end of May. The purchase price was not disclosed.

Switzerland is not a member of the European Union and allows the cultivation of nonmedical cannabis with THC levels below 1%.

The revenues from the first two acquisitions will be consolidated and included in CBD of Denver’s secont quarterly financial filing due on June 30th, the company said.

CBD of Denver trades on over-the-counter markets as CBDD.

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