Flora Growth to Expand Physical Presence in Europe Through JustCBD Partnership with Greenyard

Flora Growth to Expand Physical Presence in Europe Through JustCBD Partnership with Greenyard
CANNANNEW REPORT

Flora’s recently acquired JustCBD brand to open four brick-and-mortar locations in 2022 in Germany and the Czech Republic, with additional store openings planned in 2023. The locations will be managed in partnership with German-based Greenyard and are currently under construction, with store openings expected in Q2 2022. JustCBD’s product portfolio will be distributed in additional European countries as laws permit. MIAMI & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced today that its brand JustCBD has partnered with German company Greenyard to open brick-and-mortar stores throughout Germany and the Czech Republic. In addition to the opening of brick-and-mortar stores, JustCBD products will be distributed by Greenyard throughout Germany, the Czech Republic, Poland, Austria, Switzerland, Ukraine, Georgia and Estonia. A total of four stores in Germany (2) and the Czech Republic (2) are under construction and are anticipated to open by the end of Q2, with up to 50 additional stores opening in 2023. The stores will carry JustCBD’s complete product line, including gummies, tinctures, vape cartridges, creams, pet wellness, and more. With 2020 sales of CBD eclipsing USD $1.9 billion in the European Union and a projected compounded annual growth rate of +35%1 from 2020 to 2027, formal entry into this market will continue to strengthen Flora and JustCBD’s global position. “As a leading wellness brand in the United States, we believe the quality of JustCBD’s sought-after products will result in strong demand in the European market. This inaugural European expansion is expected to be the first of many initiatives in a broader international growth strategy,” said JustCBD founder Hussein Rakine. “We couldn’t be more excited about launching this partnership with Greenyard and are honored to bring our quality wellness products to the European market.”…

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Source : Flora Growth to Expand Physical Presence in Europe Through JustCBD Partnership with Greenyard

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