Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FRA:1WZ1), a natural health products and e-commerce technology company, revealed on Tuesday that it had signed a supply agreement with Sweet Earth Holdings Corp (CSE:SE) (FRA:1KZ1), making it the exclusive CBD dog treat provider for its direct-to-consumer brand Nature's Exclusive.
Sweet Earth Holdings, a vertically integrated hemp company, cultivates high-quality CBD products in Applegate Valley, Oregon.
The agreement enables the Sweet Earth-produced CBD canine products to channel Thoughtful Brands' newly formed subsidiary Ecommerce Tech LLC, which runs a powerful e-commerce software platform aimed at acquiring new customers and providing great customer service.
Sweet Earth canine products that will be sold under the Nature's Exclusive brand include the popular Beef and Cheddar Potato CBD Dog Treats. Sweet Earth's offerings are Leaping Bunny-certified, the gold-standard in cruelty-free certification for consumer goods signifying no new animal tests were conducted during product development.
"We are thrilled to be working with Sweet Earth, a renowned company whose sophisticated hemp-CBD offerings have long been celebrated," said Thoughtful Brands CEO Ryan Dean Hoggan.
"We are eager to propel the success of their CBD canine products by utilizing our global e-commerce platform and enhanced technology capabilities. We look forward to adding the brand to our portfolio and are hopeful for additional collaborations in the future," he added.
Building on the success of Nature's Exclusive and the supply deal with Sweet Earth, Thoughtful Brands is expanding its portfolio in the nutraceutical and hemp-based CBD product space through the August acquisition of Golden Path LLC and Wild Mariposa LLC, two direct-to-consumer e-commerce brands offering natural health products in the US.
In a statement, Sweet Earth CEO Peter Espig said his company is “very excited” to work closely with Thoughtful Brands and add its products to Thoughtful Brand's rapidly growing e-commerce platform.
“The company is well managed, maintains a powerful global platform and enhanced technological capabilities, and constantly researches for new methods of increasing customer service,” added Espig.
The booming market for pet CBD products is estimated to grow 5% faster than the overall CBD market over the next four years to $810 million in 2024, from $64 million in 2018, according to research sponsored by RestoraPet and conducted by BDS Analytics and Arcview Market Research.
Separately, the company announced that Szascha Lim had stepped down as the company’s chief financial officer and Thoughtful Brands was looking to fill the vacancy.
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