Kentucky CBD maker GenCanna has acquired a London-based cannabinoid manufacturer with plans to expand operations in Europe.
GenCanna’s acquisition of CBD Capital Ltd. was the company’s second UK acquisition of the year. In March GenCanna acquired Taylor Mammon, a white-label cannabinoid manufacturer in Welwyn Garden City.
Terms of the acquisitions were not disclosed.
GenCanna emerged from bankruptcy last year, after its assets were sold to its largest creditor, New York-based private direct lender MGG Investment Group, for $77 million.
GenCanna CEO Andrew Barnett said in a statement that the acquisition of CBD Capital would help global expansion efforts through “greater formulation capability and expanded finished goods versatility, increased supply chain flexibility, and quick-to-market turnaround.”
