Hemp Technology Inc., a vertically integrated hemp industry holding company, completed its acquisition of True Leaf Pet Inc. and all its assets.
True Leaf is a brand of hemp- and CBD-infused pet products and a subsidiary of True Leaf Medicine International Ltd. The pet wellness brand was launched in the Canadian market in 2013 and has since introduced more than 40 products to market.
mp Technology intends to take True Leaf global, beginning with North American and European markets by offering products through e-commerce, distributors, wholesale channels and in traditional retail stores.
“We will operate using the True Leaf Pet brand world-wide, under our wholly owned subsidiary of Hemp Tech, Pet Health Technology Inc.,” said Chad Costa, president of Hemp Technology.
The company shared this acquisition “opens the door” to more than 3,500 stores and a potential distribution network of 20,000 stores for the True Leaf brand, based on its current distribution network.
Hemp Technology is in the business of launching successful startups in emerging markets, and will continue to seek opportunities for growth, including strategic development through acquisitions, in the hemp and ancillary product industries. Its current focus is in the Canadian, United States and European markets.
“We are very pleased to advise that we have closed the acquisition of our bulk asset purchase of True Leaf Pet and we are eager to execute on the opportunities that presents” said Michael Shenher, chairman and chief executive officer of Hemp Technology.
Hemp Technology will leverage its business and product development, revenue generation, branding, supply chain and distribution experience to expand the True Leaf Pet brand.
Source: Pet Food Processing
The latest articles
Australia: New South Wales to grant more rights to pet-owning tenants
The reform in the Australian state will ban no-ground evictions and limit landlords' ability to refuse tenants with pets.
Pet brands score big with major sports partnerships
From food producers to insurance providers, this trend aims to improve market visibility.
Study shows gaps in American pet owners' preparedness for natural disasters
How are pet owners prioritizing their concerns when preparing emergency kits for their furry companions?
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.