BevCanna Enterprises announces the impending acquisition of Naturo Group, set to close by January 20, 2021. This merger aims to create a comprehensive health and wellness beverage company, benefiting from combined expertise and innovative leadership. Key advantages include the establishment of a unique beverage manufacturing vertical, ownership of an $18M alkaline spring water aquifer, and access to over 3,000 retail points. The new entity will enhance BevCanna's product offerings and distribution capabilities.
BevCanna Enterprises aims to expand into the U.S. market, exploring strategic partnerships and acquisitions. The company is targeting strong beverage brands and distributors, aiming to tap into the growing demand in the plant-based functional beverage sector, projected to grow at a 6.63% CAGR to reach $234.48B by 2023. Key initiatives include introducing its mineral beverage TRACE and leveraging the recent acquisition of Pure Therapy for e-commerce expansion. This positions BevCanna as a notable player in the wellness market, particularly in the burgeoning U.S. CBD space.