Under the letter of intent, Mota Ventures will sell Sweet Earth’s pet products under its direct consumer brand, Nature’s Exclusive, in the US.
Mota said it has initially chosen the Beef and Cheddar Potato CBD dog treats, a popular Sweet Earth product, with packaging to be customized to Nature’s Exclusive branding.
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The agreement comes at a time when the CBD pet market is seeing rapid growth in the US. According to data provided by Brightfield Group, the US CBD pet market is expected to increase from less than US$100 million in 2018 to approximately US$1.8 billion in 2023. The segment is the largest growth component within the overall US$6.7 billion American pet treat industry.
Sweet Earth president Amrik Virk called the agreement a “great opportunity” for the company to team up with Vancouver-based Mota Ventures, which has seen year-over-year growth of over 110% and C$5.1 million in sales during the month of May, according to a Sweet Earth release.
The final terms of the collaboration are still pending and subject to definitive documentation.
Mota Ventures is an established ecommerce, direct to consumer provider of a wide range of natural health products including CBD and psychedelic medicine products in the United States and Europe.
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