Canzon, an Israeli enterprise selling CBD-based products in Europe has reportedly entered a partnership worth NIS 6 million yearly with German distribution firm Lykos Verde.
Sources close to the matter stated that as per the agreement, Lykos Verde will acquire exclusive rights for distributing Canzon brand at over 3,000 sports stores & fitness clubs, 1,000 organic food stores, and 3,000 pharmacies in Germany.
The deal was finalized through mediation by Yuval Soiref, owner of PharmaCann International, which is an external consultant to Canzon Europe, sources claimed.
Alon Carmeli, Canzon founder was reported saying that the partnership will enable the firm to acquire a dominant spot among physical stores across Germany, thereby allowing it to become a frontrunner in the ever-growing CBD sector.
Anna-Sophia Kouparanis, Managing Director of Lykos Verde stated that the company is enthralled with the quality as well as the innovative design of the products Canzon offers. She added that the Israeli company will provide a novel solution in the German market and is looking forward to working together in the upcoming years.
For those uninitiated, Canzon is a leading manufacturer of various types of CBD-based products which do not need a medical prescription. The company evidently possesses around 24 products in eight categories for both paramedical as well as cosmetic use. It produces products such as snack bars for curing joint problems among dogs, day & night anti-aging creams as well as products for treating psoriasis and acne.
On the other hand, Lykos Verde is a pharmaceutical wholesaler that operates out of Frankfurt, Germany. According to industry experts, the company is currently focusing on global expansion by deploying an international distribution network. It is also concentrating on increasing pharmaceutical sales among pharmacists and doctors as well as other personnel in the industry.
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