Manufacturer of phyto-nutrient based food and nutritional products Endexx has completed the acquisition of Phyto-Labs, an independent service laboratory for herbal products.

Phyto-Labs is owned by Amrita, which offers formulas for flavoured cannabidiol (CBD) beverages. Endexx markets and distributes CBD products including oils and tinctures through its online presence and a national distribution and food broker network under the CBD Unlimited brand.

In October last year, Endexx revealed it had entered into a memorandum of understanding (MoU) to acquire Phyto-Labs. The company anticipates this acquisition will help it create a vertical integration and enable it to increase margins and strengthen its position in the CBD products industry.

"The company anticipates this acquisition will help it create a vertical integration and enable it to increase margins and strengthen its position in the CBD products industry."

The acquisition is also reported to be in line with the company's existing product offerings, allowing Endexx to enhance its manufacturing and sales capacity.

The phyto-nutrient food and nutritional products producer explained that demand for its products has significantly increased Q1, in comparison to Q4, 2016.

Endexx intends to further develop proprietary formulas for flavoured CBD beverages, and distribute 32,000 bottles per month in 2017/2018.

Image: Cannabidiol (CBD) products produced by Phyto Labs owner Amrita. Photo: courtesy of Marketwired/ Endexx Corporation.