CV Sciences Inc. (OTC:CVSI) Stock In Focus After Acquisition News

The wellness industry has grown at a remarkable pace over the course of the past few years, and CV Sciences Inc. (OTC:CVSI) is one of the more well-known players in that space. The company is a major player in the consumer wellness space and specializes in hemp extracts as well as natural ingredients that are scientifically backed.

Yesterday, the company announced that it had completed the acquisition of Cultured Foods, a leading player in the distribution and manufacturing of plant-based food products. It was a major new development for the company since it would help it get into the emerging plant-based food market.

Cultured Foods is known for producing a range of curated plant-based food products, which are currently sold in 15 nations in Europe. The company’s operations are based out of Warsaw, Poland. The acquisition from CV Sciences would create the opportunity for the company to import the production from Cultured Foods to the United States.

Additionally, it would also set up a base of European operations for the company, which could be used for the distribution and sales of its CBD+ products. That would provide the company with a window into a large number of retail and distribution partners in the region.

Thanks to the acquisition, CV Sciences would also be able to become a much more diverse wellness company with a global presence. It was also revealed that the acquisition had been structured to be an equity purchase. Cultured Foods would operate as a fully owned subsidiary unit of CV Sciences. The Chief Executive Officer of the company, Joseph Dowling, spoke about the development as well. He stated that everyone at the company was thrilled at the possibility of Cultured Foods and all its employees joining CV Sciences following the transaction.