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Pura Expands Co-Packing Deal With Alkame, Pursues $2T 'Combined Horizontal Market Opportunity'

December 2, 2020 2:08 pm
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Pura Expands Co-Packing Deal With Alkame, Pursues $2T 'Combined Horizontal Market Opportunity'

Puration Inc. (OTC:PURA), a manufacturer of CBD infused sports drinks, is poised to expand its co-packing partnership with health and wellness company Alkame Holdings Inc. (OTC:ALKM).

According to a Wednesday's update, ALKM already bottles Puration's EVERx CBD Sports Water.

Last month, Dallas-based Puration acquired a 5% stake in ALKM, creating a strategic partnership between the two entities.

Over the past year, Puration has been pawing its way toward becoming a hemp lifestyle brand by acquiring CBD infused beverage, edible and topical businesses.

In February, Puration revealed its intentions to expand into the CBD pet market by purchasing a CBD pet product operation.

In June, the company announced the purchase of a CBD infused sun care product business.

Puration closed the sale of its cultivation business to PAOG Group Inc. (OTC:PAOG), shortly after, in exchange for PAOG common stock.

PAOG disclosed its previously announced plan to acquire Kali-Extracts Inc.'s (OTC:KALY) NCM Biotech. Prior to that, Puration merged its cultivation business with NCM Biotech.

In addition, Puration was in negotiations to purchase Kali-Extracts' CBD confection assets.

The company noted its "combined horizontal market opportunity ranges across over $2 trillion in market value," including opportunities sexual wellness, confections, pet products, sun care, and non-alcoholic beverage markets.

Courtesy image