TAMPA, Fla., Jan. 6, 2020 /PRNewswire/ -- Canavation Product Group, Inc. ("Canavation") announced today that it has acquired Bio Lab Naturals ("Bio Lab") including its wholly owned subsidiary Pure Solutions, Inc. Pure Solutions is the manufacturing arm for Bio Lab. Bio Lab is an international white label developer and wholesale distributor of dietary supplements with 20 years in business. Bio Lab began developing and distributing Hemp Oil and CBD products approximately 3 years ago. Bio Lab offers turnkey white label formulations along with customized solutions including a complete suite of growth factors in a balanced matrix, delivering in both all-natural oral and topical formulas.
"This strategic acquisition helps to further position us to support our customers and joint venture partners with product development, formulation and manufacturing," said Bill Barlow, CEO of Canavation, "This acquisition additionally provides Canavation expanded vertical integration allowing us to focus on developing and distributing premium quality and highly differentiated consumer products."
Canavation was formed in September 2019 after acquiring the consumer products group from Teewinot Life Sciences ("Teewinot ") with the intention of tapping into the growing cannabinoid-based consumer products market. Canavation maintains several market advantages over traditional cannabinoid development groups including Its patented conversion technology (Patent # US7399872B2) that converts hemp derived CBD into delta 8THC and traditional delta 9THC. Canavation additionally has a worldwide license with Teewinot to deploy its rare biosynthetic cannabinoids into the consumer product space.
Canavation has established several joint venture relationships with best in class brands to employ its proprietary technologies, products and newly acquired formulation and manufacturing capabilities. The Bio Lab acquisition perfectly complements Canavation's marketing and growth strategy.
About Canavation Product Group
Canavation Product Group (Canavation.com) is an international product development and marketing company. Canavation develops highly differentiated consumer products as well as product line extensions for new and established brands. The company leverages its exclusive pharmaceutical quality CBD and other rare cannabinoids sourced from hemp grown in organic conditions or generated through our patent-protected conversion and biocatalytic technologies. We demonstrate quality leadership in the consumer cannabinoid product space and is backed by third party organizations and research facilities.
SOURCE Canavation Product Group