Greene Concepts
The new facility will include CBD infused beverages, pH Balanced, spring and artesian water. Credit: rawpixel on Unsplash.

Greene Concepts has signed a definitive agreement to acquire a 60,000ft2 bottling and beverage facility.

As per the agreement, Greene Concepts will be acquiring all facility assets, including land and equipment.

Final closing documents are being prepared by the closing agent for the pending final closing.

“Greene Concepts will be acquiring all facility assets, including land and equipment.”

The facility will be used by Greene Concepts to produce a wide range of beverage product lines, including cannabidiol (CBD) infused beverages, pH-balanced drinks, spring water and enhanced athletic drinks.

The company is currently in the process of transitioning from the ink technology business to the speciality beverage and bottling business. This acquisition is expected to complement these transition plans.

Last December, Anheuser-Busch (AB) InBev and cannabis production and distribution firm Tilray partnered to carry out research on non-alcoholic beverages containing tetrahydrocannabinol (THC) and CBD.

The partnership leveraged AB InBev’s expertise in beverages and Tilray’s expertise in cannabis products.

As part of the partnership, AB InBev agreed to participate in the research through its subsidiary Labatt Breweries of Canada while Tilray agreed to participate in the research through its Canadian adult-use cannabis subsidiary High Park Company.

Tilray’s subsidiary develops and produces a portfolio of socially responsible cannabis brands and products in Canada.