The company recently announced acquiring a company to facilitate bottling in Europe
Image: Puration announces first foreign CBD beverage bottling contract. Photo: courtesy of congerdesign from Pixabay.
Puration announced entering into a contract to begin bottling EVERx CBD Sports Water in Europe.
The company recently announced acquiring a company to facilitate bottling in Europe as part of an overall initiative to expand bottling capacity world-wide. The company also recently European a distribution agreement in Europe estimated to add $4 million in sales next year.
Management indicates that the potential of European distribution beyond the initial $4 million projection warranted the establishment of a local bottling capacity. The European market for CBD is projected to reach nearly US $17 billion by 2023.
The company has scheduled an update with more details on the company’s recently announced 2020 expansion plan scheduled for next week on Tuesday, December 17, 2019. PURA’s expansion is intended to substantially increase PURA’s 2020 prospects beyond its current $8 million revenue target. PURA has recently reconfirmed its $4 million revenue target for 2019 and an $8 million revenue target for 2020. The CBD beverage market is one of the fastest growing beverage sectors anticipated to reach $1.4 billion by 2023.
Source: Company Press Release