Pura Expands Co-Packing Deal With Alkame, Pursues $2T 'Combined Horizontal Market Opportunity'

Puration Inc. PURA, a manufacturer of CBD infused sports drinks, is poised to expand its co-packing partnership with health and wellness company Alkame Holdings Inc. ALKM.

According to a Wednesday's update, ALKM already bottles Puration's EVERx CBD Sports Water.

Last month, Dallas-based Puration acquired a 5% stake in ALKM, creating a strategic partnership between the two entities.

Over the past year, Puration has been pawing its way toward becoming a hemp lifestyle brand by acquiring CBD infused beverage, edible and topical businesses.

In February, Puration revealed its intentions to expand into the CBD pet market by purchasing a CBD pet product operation.

In June, the company announced the purchase of a CBD infused sun care product business.

Puration closed the sale of its cultivation business to PAOG Group Inc. PAOG, shortly after, in exchange for PAOG common stock.

PAOG disclosed its previously announced plan to acquire Kali-Extracts Inc.'s KALY NCM Biotech. Prior to that, Puration merged its cultivation business with NCM Biotech.

In addition, Puration was in negotiations to purchase Kali-Extracts' CBD confection assets.

The company noted its "combined horizontal market opportunity ranges across over $2 trillion in market value," including opportunities sexual wellness, confections, pet products, sun care, and non-alcoholic beverage markets.

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