CannGoods And E5 Chem Announce Planned Merger Of Business Operations

CannGoods and E5 Chem have announced today the planned merger of their business operations to offer a unified solution for cannabis ingredient products targeting retail shelves.

E5, founded in 2019, has built its business on proprietary botanical formulations that lead the market in both efficacy and taste. E5 has created leading formulations for global brands with more than 80,000 units shipped from the USA to the UK and products on the OTC shelves of 256 Tesco retail pharmacies. With a strong focus on pharmaceutical, cosmetics and beverages, E5’s R&D team is poised to leverage CannGoods’ strengths to build on their market lead in the botanical derivatives CPG formulations market.

“E5 offers an exciting opportunity for CannGoods to expand its product launch solutions with the addition of product development and formulations,” explains Lucas Robinson, CEO of CannGoods. “With a range of clients, the acquisition of E5 supports the CannGoods strategy to accelerate the launching of elite products in regulated markets.”

Andrew Conrad, co-founder, and CEO of E5, also commented “CannGood’s acquisition of E5 provides a major growth opportunity for both of our businesses through a turnkey service offering for our clients. We are excited to be a part of an end-to-end solution” Conrad will join CannGoods as head of the Operations division.

The expanded business will serve elite brands in industries ranging from beverage to cosmetics in both the USA and EU.

CannGoods is a technology solutions company in California. It has been solely focused on accelerating the launch of elite brands into retail since its inception in 2018.

Since its inception, CannGoods’ business and service offerings have evolved to meet the unique demands of the highly regulated and growing cannabis-ingredient supply chains.

To be the leader in supply chain services, CannGoods has made the clients’ needs the central focus of everything it does.

More information about the services offered can be found at the company website: https://www.canngoods.com

A spokesperson for CannGoods shared that they expect definitive agreements to be completed by 15 June 2020 and the operations to be based out of CannGoods’ Headquarters in Northern California shortly thereafter.

Courtesy photo.

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