Caliva, a vertically integrated cannabis company in California, announced its acquisition Friday of plant-based beverage maker Zola, which was acquired by the private equity firm KarpReilly in 2016.
Why It Matters
Caliva said it plans to use the acquisition to accelerate its expansion into the cannabis- and hemp-based CBD-infused beverage sectors.
Zola’s relationships with distributors, both regional and national, will enable a fast rollout of Caliva’s CBD beverages to targeted markets, Caliva said.
Zola’s portfolio of plant-based beverages is available in over 7,000 retail locations across the U.S. The company brings more than16 years of experience in the “trendy” beverage space.
Chris Cuvelier, Zola’s CEO, will oversee and execute beverage initiatives at Caliva in order to quickly go from concept to the shelf.
Caliva CEO Dennis O’Malley said in a statement that consumers are seeking trusted CBD solutions in their beverages.
“We couldn’t be more excited to team up with Zola and Chris to bring Caliva CBD beverages to a supermarket near you.”
Caliva is exploring its entrance into the infused beverage market, including sparkling water, functional shots, functional powders, teas, cold brew coffee and sports drinks.
Zola’s Cuvelier said hemp-based CBD is the “ultimate plant-based ingredient,” and that beverages are a unique delivery system for the substance.
“I am excited to leverage Caliva’s expertise, consumer insights and technology to create a portfolio of delicious and functional hemp-based CBD beverages.”
Disclosure: Andrew Ward has done work for Caliva in the past.
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