CBD of Denver Signs Agreement to Acquire CBD E-Commerce Distribution Platform and Technology Company Mellow
Denver, Colorado--(Newsfile Corp. - April 5, 2022) - CBD of Denver, Inc. (OTC Pink: CBDD), a distributor of CBD and unique CBD products sold in Switzerland and throughout Europe, is pleased to announce it signed an agreement to acquire 100% of Mellow, a CBD ecommerce distribution platform and technology company, with capabilities in the UK, Europe, and Asia, for an undisclosed sum. The acquisition is expected to close in the second quarter of 2022.
"I am excited to welcome the team from Mellow into the CBD of Denver family. This acquisition will combine technology and retail e-commerce distribution alongside manufacturing and supply chain infrastructure to create a turnkey solution for the CBD industry across Europe. There is no other company in the industry now offering what we do in Europe," said Paul Gurney, CEO of CBD of Denver.
"With operations in Asia, Mellow also gives us an entrance into the rapidly evolving CBD markets in the fast-growing Asia Pacific region," continued Gurney. "The Mellow technology stack will accelerate our plans to become the go-to name for cannabis across all parts of the value chain in international markets."
"By combining our technology infrastructure, market entry capability, and experience in building and growing multi-brand ecommerce marketplaces with the distribution capability and in-market sales channels of CBD of Denver, we believe this is a remarkable opportunity," says Neil Tunbridge, Co-Founder of Mellow. "The result will be a truly end-to-end, technology-led CBD/cannabis business, based in Europe, but with global capability and scale."
James Storie-Pugh, Co-Founder of Mellow, added, "We believe that this is a remarkable opportunity for two already successful yet complimentary businesses to come together to create a virtually incomparable industry powerhouse. The capability to offer biomass, extraction, manufacturing, supply chain, and distribution, as well as providing supporting digital marketing and ecommerce capabilities is unrivalled. Additionally, Mellow is also the leading multi-channel distribution partner of choice for globally minded CBD and Hemp brands in Asia too, with our own physical store network and ecommerce channels. This is a global play."
CBD of Denver will host a conference call to discuss the Mellow acquisition on Wednesday, April 6, at 1:00 p.m. ET. To participate in the call, please use the following details:
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Mellow has three constituent business units Mellow.Store (the marketplace), Grow by Mellow (sector-specific in-house digital and performance marketing agency), and Mellow Asia (multi-channel distribution partner for globally minded brands). Collectively they provide fantastic market-network effects, supplying diversified revenue streams and a de-risked business model.
Mellow marketplace provides an enviable view of consumer data, product and search insights, and will continue to bring together aggregated demand for products in the sector, while remaining a go-to destination for Global brands looking to come to the UK/EU markets.
We believe that Asia represents the largest area of pent-up demand for CBD and Hemp Wellness products globally, using Hong Kong as a springboard we intend to open up 3-4 more markets in 2022.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD) a full-line Cultivator, Distributor of CBD and Cannabis flower and a producer of a full line of CBD oil and unique products sold in Switzerland and throughout Europe. CBD of Denver, Inc. is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders and is driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. Through our Rockflowr brands we have built a very strong European customer base by focusing on top quality products and meaningful customer relationships.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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