Sativa Wellness inks agreement to build Goodbody CBD brand within Germany

Sativa Wellness Group Inc (AQSE:SWELCSE:SWELOTC:SCNNFFRA:484). has signed a distribution agreement with German partners Lexamed to build the Goodbody CBD brand within Germany.

The pair also have plans to expand this to other European countries in the future.

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Germany has a strong CBD market, Sativa said, adding 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.

As part of this agreement, the AIM-listed group will transfer full ownership of Sativa to Lexamed and Sativa will be renamed as Lexalife.

Lexalife will act as the distribution partner in Germany for Goodbody Botanicals Limited, Sativa’s CBD production and distribution subsidiary.

“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,” said executive chairman Geremy Thomas.

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