The cannabis market is blooming as Canada prepares for legalization and forward-thinking companies, like Harvest One, are changing the game by looking beyond cultivation for sustainable and innovative growth.
Harvest One, the parent company of licensed cannabis producer United Greeneries and Satipharm AG, just announced its acquisition of Dream Water. Yes, those little bottles of sleep-time gold that you find at the cash of health food shops. In fact, Dream Water is sold in 30,000 retail locations throughout North America with plans to expand to the EU. They also have an annual revenue of approximately $6 million dollars and a celebrity following from the likes of Kendall Jenner, Demi Moore, Zach Ertz, and Paris Hilton.
This transaction positions Harvest One to operate as a complete, vertically-integrated global group with cannabis cultivation, manufacturing, marketing and distribution of both medical and recreational cannabis products, as well as consumer goods.
So what does this acquisition mean for consumers? We could be seeing CBD-infused Dream Water in local retail stores as soon as cannabis extractions become legal. Product development plans include oral spray, liquid suspension and powder-based product lines.
Andreas Gedeon, CEO of Harvest One says, “Dream Water positions us as first movers in both the global cannabis and sleep markets, two robust industries that are expanding rapidly. The synergies between the two are expected to add significant value for our shareholders.”
Harvest One is a publicly traded company on the TSX.V (TSX.V:HVT).