Sumary of Flora Growth Forms JV With Avaria Health and Beauty to Distribute Award-Winning Pain Products Across LATAM:
- (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce it has entered into a definitive agreement with Canada-based Avaria Health &
- (“FloVaria”), a joint venture company equally owned by Flora and Avaria.
- Through FloVaria, Flora will provide distribution, supply chain, and marketing support of KaLaya products in Colombia, Mexico, and other LATAM countries, while Avaria will initially supply the finished product to FloVaria.
- In the event that manufacturing costs from Canada become materially higher than the cost to produce in Colombia, FloVaria will explore moving its supply chain activities of Avaria products to Flora Lab.
- Any profits from the sale of KaLaya products via FloVaria will be divided equally between Flora and Avaria, increasing the value of Flora’s existing distribution channels.
- Further, Flora Lab will work to produce FloVaria’s cannabinoid-infused products, with an emphasis on incorporating cannabidiol (“CBD”), using cannabis from Flora’s cultivation facility.
- These products are expected to be distributed across LATAM using Flora Lab’s established distribution channels, with the goal of exporting to the U.S. market, where Avaria recently launched its KaLaya brand and has seen encouraging sales metrics.
- “Since our initial meeting with Avaria, we were impressed by their commitment to research, product development, and most importantly, providing customers with products that work,” said Luis Merchan, President and CEO of Flora Growth.