Coffee Holding to acquire 49% stake in CBD beverage company Jordre Well
Coffee Holding Co., a US-based wholesale coffee roaster and dealer, has agreed to acquire a 49% stake in The Jordre Well, a cannabidiol beverage company (CBD beverage company).
Jordre Well is led by the founders of CBD skin care brand Cannuka.
As per the terms of the deal, Jordre Well will help Coffee Holding in the development and commercialization of CBD-infused line extensions for the latter’s existing coffee brands.
Besides, the CBD beverage company will enable Coffee Holding in introducing new brands for meeting consumer demand for non-coffee CBD-infused beverages and products.
For speeding up time to market, Jordre Well plans to make use of Coffee Holding’s scalable network of manufacturing and distribution centers across the US, among other benefits and synergies.
Andrew Gordon – CEO of Coffee Holding said: “Following the 2018 Farm Bill which legalized hemp, on January 29, 2019, the Company announced that it was beginning to explore the potential for CBD coffee in the near future.
“After numerous discussions and much consideration, the Company is happy to have finally found the right commercialization and brand development partner to bring CBD infused line extensions and beverage brands to fruition.”
Coffee Holding said that Café Caribe, its flagship dark roast latin espresso brand, and also Harmony Bay, its gourmet coffee brand, will be the first two brands to offer CBD-infused line extensions. These will be made available online to consumers as early as possible in single-serve cups and more.
Furthermore, Coffee Holding said that with the regulatory landscape for CBD expected to evolve, it plans to expand its CBD infused coffee offerings, and other CBD-related products, via the multiple selling channels presently available to it and Jordre Well.