US-based CBD beverage manufacturer PURA remains resilient through the COVID-19 Pandemic reporting 48% sales growth YTD compared to the same period last year. The company realized $1.6 million in revenue with $471,000 in gross profit primarily from sales of its EVERx CBD Sports Water. PURA expects to maintain resilient sales throughout the year.
At the same time the company continues to position itself as an overall CBD infused consumer products company through its ongoing acquisition campaign.
In January of this year, PURA initiated an acquisition campaign to introduce a solution to the cannabis sector-wide challenge with access to capital by leveraging its own core competencies to acquire CBD infused beverage, edible and topical businesses.
PURA targets CBD product acquisitions that can be enhanced with PURA’s patented technology. PURA owns a license to a U.S. Patented cannabis extraction process backed by extensive university medical research. The license, issued by NCM Biotech, is exclusive for beverages, edibles and cosmetics among other uses. NCM Biotech is focused on medical research and Puration has access to that research. See a recent research report on CBD extracts derived from NCM Biotech’s patented extraction process: Journal of Cannabis Research.
Since launching the acquisition campaign in January, the company has acquired a CBD confections business, a CBD pet products business and CBD sun care business. Combined with its existing beverage industry product line, PURA’s combined horizontal market opportunity ranges across over $2 trillion in market value:
In conjunction with the acquisition campaign, PURA secured a $5 million investment to fund its acquisition efforts. PURA concentrates on making acquisitions in exchange for royalty agreements and a commitment for PURA to fund a marketing expansion of the product line.
PURA is developing a single brand name identity and unified marketing strategy that can cross all five industries listed above in addition to any new industries PURA may enter with future acquisitions. PURA plans to release the latest information regarding its branding and market strategy developments next week.
Source | Puration Inc.