Posted in CBD Stocks

CBD Of Denver Enters ‘Largest Cannabis Market In Europe’ In Partnership With Home of CBD

 Posted by  Posted on October 20, 2022

© Provided by Benzinga

CBD of Denver (OTCPK:CBDD) signed a letter of intent to work with German CBD and cannabis specialist Home of CBD as a distribution partner for Mellow.

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Highlights of the partnership:

Home of CBD is a Berlin-based German cannabis retailer with seven stores and additional reach into 500 locations and plans to expand its network to 2,000 locations in 2023.

Home of CBD will provide warehousing and logistic services in Berlin, expanding CBDD’s reach into Germany.

CBDD will source international hemp-based products to market across Germany in Home of CBD stores and with their partners.

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It is estimated the European CBD market is ~$2 billion in value with Germany, the largest country at $1 billion or 50% of the market. Germany legalized medical cannabis in 2017, seeing steady growth in patient numbers since then. The coalition government intends to make adult-use cannabis legal for adults. A draft law has been promised by the end of the year, and a leaked report from October 18th shows that Germany has big plans for the cannabis market. CBDD is making ground in this market by forming a strategic relationship with Home of CBD.

“This partnership marks the beginning of what we hope will further an already strong relationship. The team behind the Home of CBD is one of the up and coming cannabis retailers in Germany. This arrangement gives us access to the largest cannabis market in Europe, and an easy go-to market option for U.S. brands. We also like their growth plans in country as Germany continues to move closer to a fully legal adult-use market,” stated CEO Paul Gurney.

Photo: Benzinga; Sources: courtesy of geralt, lindsayfox via Pixabay

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