Phivida Holdings has signed an agreement with Gotham Brands to expand the Oki beverage line in the US.

Under the agreement, Gotham will handle sales, merchandising and distribution of Oki beverages across New York.

Phivida’s Oki beverage line-up is available in eight different flavours containing 20mg of CBD, derived naturally from broad-spectrum hemp extract.

The company’s beverage has registered a growth of 200% in distribution over the last two months.

Phivida president and CEO Jim Bailey said: “Gotham will be receiving its first shipment next week and our team will work with them to launch Oki in outlets throughout New York City from 1 November 2019.

“As the CBD market heats up with more competition from many new entrants, Oki beverages have continued to be successful, with high sampling conversion rates and solid sales.”

Oki beverages are now available at retailers in New York, California, Colorado, Nevada and Texas, with online purchase also available through the company’s website.

In addition to Phivida, Gotham supports and represents other brands including La Croix, Runa, Eternal Water, Love Beets and Arteasan.

Gotham Brands owner Trent Moffat said: “We are pleased to partner with Phivida to introduce Oki beverages to New York customers. We see big potential in this fast-growing category and are excited to be working with Jim and his team to be the first to open the New York market for Oki.”

Last January, Phivida Holdings launched a range of iced tea designed to support the gastrointestinal tract (GI-tract), absorbing orally ingested cannabinoids and phyto-nutraceuticals.