LONDON, UK: Voyager Life Plc has acquired a CBD extraction and manufacturing facility in Poland from Goodbody Health Limited for a consideration of £1.5 million, comprising of £0.5 million in money and £1.0 million of convertible mortgage notes.
The acquisition comprises the shares of Sativa Wellness Poland Sp. z.o.o. and Olimax NT Sp. z.o.o., subsidiaries of Goodbody Health, that mixed present CBD extraction and manufacturing at a facility in Bilcza, Poland.
The acquisition of the CBD extraction and manufacturing facility in Poland will allow the Company to create a vertically built-in pan-European group.
Nick Tulloch, Chief Executive Officer and Founder of Voyager Life Plc, said: “This acquisition concurrently fulfils two of our objectives, namely to increase our enterprise into Europe and full our vertical integration. Voyager will now be in a place to management the CBD present chain from extraction to manufacturing to product accreditation to retail.
“As our VoyagerCann manufacturing division has grown, we have more and more handled European customers who, as a consequence of Brexit, may discover supply times are elongated due to customs checks and costs are distorted by customs charges. Going forward, our product vary that’s already formulated and made within the UK can now be manufactured in Poland and distributed throughout the European Union’s single market.
“Not solely does the acquisition make us extra attractive to our B2B customers, given the breadth of services we can now offer, however it additionally enables us to make very significant cost financial savings throughout our product range. The retail costs of CBD merchandise are stressed and we’re now not solely well positioned to guard our personal margins however additionally to present higher offers to our finish customers.
“Concluding this acquisition marks the finish of many months of hard work but, with extra work to come as we combine our new Polish facility with the remainder of our business, we believe we have laid the foundations to be one of many most important CBD companies in continental Europe.”