SEATTLE, Jan. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering a recent Weekend Unlimited acquisition. Weekend Unlimited Inc. (CSE: YOLO – FSE: 0OS1) is starting off the new year with a bang. On the heels of an exciting announcement last week, the lifestyle brand formally announced the closing of its acquisition of Verve Beverage Company.
Verve is uniquely positioned within the functional beverage market, one of the highest growth categories in the beverage industry, with a proven product and recognized brand.
“Verve is a premium energy beverage with over $236 million USD in historical sales in the direct to consumer channel. VBC Brands owns the exclusive distribution license to launch this proven brand into retail stores in the US, Canada and Mexico, leveraging over $150 million spent in marketing and developing the brand,” said Bradley Robb, President of VBC Brands.
The acquisition of Verve allows Weekend Unlimited to advance its plans for cannabinoid-infused beverages and enhances its presence in the highly lucrative alternative delivery market, which is predicted to vastly outpace the market for cannabis flower.
“With the addition of Verve, we now have a platform for Weekend Unlimited to expand both its distribution and product offerings, THC by State and CBD across the country. This distribution network will allow us to grow and manage indirect channel and big box placements nationwide for multiple brands in our portfolio," said Paul Chu, Weekend Unlimited Inc. President and CEO.
CBD-infused beverages alone are expected to become a $600 million market in the US by 2022*, and Verve is gearing up for the launch of its CBD-infused beverage in the first quarter of 2019. Verve is physician-formulated and clinically-tested, and will appeal to consumers within both the cannabis and wellness markets – two of the fastest growing markets worldwide.
Verve is introducing new beverage brands such as Champ Energy – which is already the official energy drink of the NHL’s San Jose Sharks - under its exclusive distribution license, plans to launch additional CBD-infused products, and has plans to grow its retail footprint through its distribution network and retailer relationships throughout the US.
“VBC Brands’ CHAMP CBD and non-CBD beverages serve to extend our opportunities in the wellness industry, positioning the company’s line to take advantage of growing demand as the market shifts in attitude and legislatively, regarding quality cannabinoid products,” explained Mr. Robb. “As the official energy drink of the NHL’s San Jose Sharks, CHAMP sales and distribution will be initially focused in the lucrative California market.”
Weekend Unlimited aggregates and scales small to medium brands, primarily in the categories of flower, extracts, and edibles. Aside from recent acquisitions Canna Candys & Canna Medibles and Verve Beverage Company, the company operates Orchard Heights Growers, a Tier 3 producer/processor in central Washington State, Jerome Baker Designs, which creates custom glass art (most notably “Bongzilla”, the world’s largest bong), and it has launched Weekend Unlimited Live, a live-event concept featuring concerts, music festivals, exclusive parties, destination travel, sports, charity and other special branded events to raise the profile of its product brands.
For further information, please contact:
Mr. Paul Chu, President and CEO
Telephone: 1 (236) 317-2812 - Toll free 1(888) 556-YOLO (9656)
E-mail: IR@weekendunlimited.com
https://www.weekendunlimited.com/
Please follow the link to read the full article: https://www.cannabisfn.com/weekend-unlimited-announces-second-acquisition-of-2019/
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