PURA acquires Kaly’s Hemp4mula CBD Confections business in US

US-based CBD-infused beverages manufacturer Puration (PURA) has announced the acquisition of Kaly’s Hemp4mula CBD Confections business for an undisclosed sum.

Hemp4mula CBD Confections’ line is engaged in the production of CBD-infused gummies and gum products in the US.

PURA recently unveiled its $5m acquisition campaign, which primarily aimed to acquire the company’s CBD-infused beverage, edible and topical operations.

The $5m investment is a structured debt facility, which can be used to fund acquisitions.

PURA is currently said to be working towards building a pipeline of more acquisition opportunities.

This January, the two companies entered into discussions, under which PURA expressed its interest to acquire all CBD confection assets from Kaly.

By selling off its non-pharmaceutical business assets, Kaly intends to streamline its focus on its ongoing cannabis biopharmaceutical business.

Kaly has designed and developed CBD formulation for treating symptoms associated with Chronic Obstructive Pulmonary Disease (COPD) and similar respiratory conditions.

The formulation was developed using the company’s US-patented cannabis extraction process.

PURA has been using Kaly’s patented cannabis extraction process for extracts to be infused into its beverage line up. It expanded its beverage production capacity in Europe, Latin America and Africa.

Last October, Puration unveiled its plans to launch tetrahydrocannabinol (THC)-based beverages in the Canadian market.

The company noted that its THC Savor drink would be introduced in the market after the Canadian Government legalises the sale of cannabis-infused beverages in the market.

Going further, PURA management is exploring new possibilities of expanding its business into the production of additional cannabis-infused products.