PURA to acquire CBD infused sexual wellness business

Puration (PURA) has entered into a letter of intent (LOI) to acquire a CBD infused sexual wellness product line.

The acquisition is expected to be wrapped up by the end of this month and will mark its fourth acquisition in 2020.

PURA said that its revenue is generated mainly via the sales of its EVERx CBD Sports Water.  The company reported $2.7 million in annual sales in 2019 and $800,000 in Q1 2020.

In January 2020, PURA launched an acquisition campaign to acquire CBD infused beverage, edible and topical businesses.  The company said that the acquisition campaign is a long-term growth strategy while the COVID-19 Pandemic keeps its management focused on the first priority of maintaining rapid growth via its EVERx sales.

In a statement, the company stated: “PURA’s horizontal strategy to expand across the CBD market from beverages, to edibles and topicals gives PURA a wider footprint and corresponding long-term stability from which to maintain sustainability and fuel rapid growth.”