Sativa Wellness Group Inc (AQSE:SWEL) has announced that it has signed a distribution agreement with German partners Lexamed GMBH. This exclusive agreement will allow both parties to work together to build the Goodbody CBD brand within Germany with plans to expand this to other European countries in the future. The German market has a strong CBD market, and this is a great opportunity for both companies. The existing Goodbody range will be offered through a number of channels in Germany and the companies will also work together to develop new products for the European market in conjunction with Sativa Wellness’s polish extraction and manufacturing facility.
Sativa Group Limited and Lexamed currently share ownership of a joint venture company Sativa GMBH. As part of this agreement the Company will transfer full ownership of Sativa GMBH to Lexamed and Sativa GMBH will be renamed as Lexalife GMBH. Lexalife will act as the distribution partner in Germany for Goodbody Botanicals Limited, Sativa’s CBD production and distribution subsidiary.
Geremy Thomas, Executive Chairman, says; “We are really excited about this new development with an existing partner which opens up so many opportunities and helps Sativa to deliver its strategic plan of increasing our footprint in Europe.”