AVIDA Global has announced the acquisition of Canna Creations, a full-service manufacturing and CBD potency testing business, and Green Stem CBD, Canna Creations’ own CBD brand.
This is a significant step for Avida Global which accelerates the business from a high-quality cultivator and producer of medicinal cannabis oils to a fully vertically integrated seed-to-sale business.
Canna Creations is a white-labelling manufacturing business that produces a wide range of CBD products for several high-street retailers. Green Stem CBD is Canna Creation’s own brand, one of only four CBD brands currently available on Amazon, and is stocked in Boots and other high street retailers.
Canna Creations will be rebranded to Avida Global Labs whilst Green Stem CBD will retain its name.
Founder of Canna Creations, Brett Horth, will take up the position of Avida Global CEO, Australia, New Zealand and Asia and join the Avida Global board with immediate effect. Nathan Whitman, former Managing Director (MD) of Canna Creations and Green Stem CBD will assume the position of CEO of Avida Global Labs and Green Stem CBD.
David Kirby, Chief Executive Officer at Avida Global said: “The acquisition of Canna Creations and Green Stem CBD to Avida Global marks a transformative milestone in our plans to create an innovative fully integrated seed-to-sales business. Both are high-quality brands in keeping with our own philosophy, and we are already building on our various synergies to create exciting opportunities globally.”
“The addition of Brett Horth and Nathan Whitman to the Avida Global team is hugely exciting. They are both dynamic cannabis and CBD veterans and a bring a wealth of experience with them and a shared desire to benefit patients, customers and shareholders.”
Brett Horth said: “I am incredibly excited not only for the opportunity for Green Stem CBD to be presented on the global stage as part of Avida Global, and being an intrinsic part of a fully vertical operation, but also for the new opportunities that await as CEO of Avida Global Australia, New Zealand and Asia.”
Nathan Whitman said: “I am honoured to join a world class team of cannabis experts within Avida’s Global network. Canna Creations and Green Stem CBD will benefit in the now established vertical operation which enhances our inhouse formulation and testing capabilities, bringing affordable premium products to a global market.”