We are pleased to announce that our daughter company Alkannoli, Lda get into an exclusive wholesale distribution agreement with Luff Enterprise Ltd,. (Vancouver, B.C.).
Alkannoli, Lda trading as Kannoli Pharma and located in Portugal, is a new entrant in the European medical cannabis industry.
The company’s vision of is to contribute to the development of medical cannabis products for the alleviation of human illness, disease, and suffering.
Under the terms of the agreement Alkannoli will have exclusive rights to distribute LUFF’s products in Germany and Portugal for three years, initially. According to New Frontier Data, the CBD market in Europe was worth € 8.3 billion in 2020 and is expected to grow to € 13.6 billion by 2025. LUFF immediately gains access to a market of over 90 million people within the Territories, with access to another 350 million within the European Union. This partnership in Europe is LUFF’s first significant international expansion providing access to emerging markets with high growth prospects and strong CBD adoption. CBD sales in the Territories are currently allowed federally and expected to expand in the coming years.
Oliver Schnorr, CEO of Euro Khan LLC and CEO of Alkannoli Lda., commented “After extensive research of global suppliers we are proud to partner with LUFF. Alkannoli’s executive team boasts current and previous success in FMCG, Retail, Pharma and international business development, we are excited to align with Philip and the LUFF team to establish and grow the Portuguese and German markets. LUFF is one of the more successful brands to emerge out of the US and Canada, we believe that bringing our collective experience will create positive results for us both in this fast-growing innovative space.”
Philip Campbell, CEO of Luff Enterprises Ltd., commented “We are excited to be working with the Alkannoli team to bring our suite of products into the European market. Oliver and his team have established excellent networks in Europe and their depth of knowledge and experience will provide an exciting platform for our best-in-class wellness products. We are focused on working with strong partners as we grow internationally. As the global CBD market expands we will focus on our competitive advantages – industry best product formulas, lean manufacturing and deep industry knowledge – while working with partners who have the best distribution networks.”
