The Yield Growth Corp. on September 25, 2019 its wholly owned subsidiary W&W Manufacturing entered into a definitive agreement with Melorganics Hellas for the exclusive distribution of Yield’s Wright & Well brand of CBD products in Greece and Cyprus.
The agreement grants exclusive distribution rights to Melorganics for an initial fee of CAD $100k for the first three years and continued exclusivity for up to 20 years with minimum annual purchases by Melorganics of CAD $100k.
The initial licensing fee is payable after at least 3 Wright & Well products have been registered for sale within the European Union, which is anticipated to take 3 – 6 months months. Melorganics is to submit its first order of products within 30 days after the date the 3 products have been registered.
Yield’s Wright & Well brand has a line of Ayurveda-inspired CBD infused products that are supported with hemp root oil. This powerful line-up is uniquely formulated to help people move freely by helping to alleviate pain. With proprietary formulations as unique as they are powerful, these products are backed by more than 30 years of Ayurvedic study and hands-on practice with chronic pain sufferers. Each product is formulated with the purest ingredients, nano-precise ratios, and uses carefully selected strains for the most impactful result.
Brightfield Group estimates that the European CBD market will boom over the next four years. The market was estimated at $318 million in 2018 and is expected to grow over 400 percent through 2023.
“CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited. This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we’re seeing in the U.S.,” says Bethany Gomez, Brightfield Managing Director.