LOS ANGELES, June 10, 2020 /PRNewswire/ -- Association Partners ("AP") today announced the signing of a multi-million dollar strategic agreement with PureForm Global ("PureForm") to bring THC-free CBD products to over 10,000 retail stores, targeting convenience and gas stations across the United States. The hallmark program, which will roll out to Asian American Retailer Organizations retailer network in early July, addresses a major concern of consumers and retailers to remain compliant in an ever-changing regulatory environment. The deal will include Chewy Big Delicious protein bars, Chewy Big Delicious gummy diamonds, and a collection of four VEIVE pain relief creams. These new products feature PureForm's bio-identical CBD derived from non-cannabis sources. Products containing PureForm CBD™ are expected to be game-changers for consumers seeking reliably formulated CBD products.
"Consumer safety is our top priority. PureForm's mission is to enable mainstream retailers and brands to confidently meet the growing consumer demand for CBD without the considerable risks associated with hemp-derived CBD," said Steve Miller, PureForm's Chief Operating Officer. "We use a proprietary manufacturing process that produces pure, consistent and stable CBD that is free from THC, pesticides, heavy metals, and other dangerous impurities. These factors are critical to brands, retailers and consumers alike."
"PureForm's mission aligns perfectly with Association Partners' commitment to serve and protect the interests of our retail members and their customers as we source reliable brands and vendors. CBD is an especially important product category for our member stores as demand continues to grow at a tremendous rate. We have wait-listed and removed from consideration any companies that fail to guarantee the ability to meet the THC threshold for CBD products mandated by Federal or State governments," said AP Chairman and Asian American Associations' BOD Trustee, Paul Rock.
"A great product alone will not secure a strategic roll out through our network. We must be confident in the management team and their core competency to execute and grow business in a CPG (Consumer Packaged Goods) focused approach. We welcome PureForm as a go-to-market CBD partner with affiliated brands and products throughout 2020 and to ensure our continued long-term growth in this important category," Rock added.
Although the unique hurdles of the COVID pandemic and civil unrest have certainly caused slowdowns and interruptions, the associations' retailers remained open during the entire process and shall continue to do so. This sort of front-lines positioning has not only made convenience retailers pivotal in neighborhoods across the nation on a daily basis, it has led to them becoming the largest marketplace available for CBD.
The organizations served by AP control over 60 percent of their respective retail markets. Although most stores are branded, the vast majority of all convenience stores and gas stations in America are independently owned and operated. These owner-operated stores reach more Americans on a daily basis than grocery, drugstore, dollar store and big box stores all combined. The AP's primary and affiliate organization membership operates many franchises of the most popular branded retailers such as Circle K, Sunoco, Chevron, 76, BP, Arco, AM/PM, Shell, Marathon, and many others. The group estimates convenience stores and gas stations will account for $8-10 billion of what The Brightfield Group expects to be a $22 billion CBD market in three years.
About PureForm Global, Inc.
Headquartered in Los Angeles, California, PureForm is a biotechnology company focused on the research, development, and commercialization of synthesized CBD and other cannabinoids. The company's synthetic cannabinoids are 100% chemically identical to their plant-based counterparts and are manufactured using a proprietary process that produces pure, consistent and stable compounds free from THC, pesticides, and impurities. PureForm produces CBD at commercial scale in cGMP and FDA compliant facilities in the US and UK. It was founded in 2016 with a commitment to bringing pure, consistent, cannabinoids to market economically and at commercial scale in service to the world's most quality-conscious brands. To learn more about PureForm CBD™ or our other initiatives: www.pureformglobal.com
About Association Partners and Asian American Trade Associations
ASSOCIATION PARTNERS (AP) is composed of delegates from various business retailer organizations (Asian American Convenience Stores Association, Asian American Trade Associations Network, Asian American Store Owners Association, and many others) across the country with each group having as few as 100 or as many as 10,000 or more retail locations. The aggregate reach of AP's groups are 90,000+ retail locations in the corner store, general retail outlet, convenience store, and gas station (C-Store) industry. However, AP's focused approach has targeted 35,000 of the 90,000 accounts for hyper growth categories such as CBD and others. AP's retail groups' members operate many franchises of the most popular branded C-Store retailers such as Circle K, Sunoco, Chevron, 76, BP, Arco, ampm, Kangaroo, Shell, Marathon, and many others. AP backs the Associations with the power of an implementation arm and marketing division that, not only, increases the reach and placement of products and services, but also can launch and build entire brands within the industry through these organizations' retail locations. AP's retailer organizations also allow brands doing programs with AP to participate in private tradeshows, dinners, events, gatherings, and face-to-face pitch meetings, providing its corporate partners with direct access to retail location owners and their management leading to a competitive advantage within the marketplace. The overall C-Store industry reaches more Americans daily than grocery, drugstore, dollar store, and big box stores combined.
Certain statements in this announcement are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, by their nature, are inherently uncertain and outside of the Company's control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, information concerning the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Those assumptions and factors are based on information currently available to the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to develop the Company's brand and meet its growth objectives, the ability of the Company to complete acquisitions that are accretive to the Company's revenue, the ability of the Company to obtain and/or maintain licenses to operate in the jurisdictions in which it operates or in which it expects or plans to operate. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The forward-looking information contained in this release is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-looking information that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The foregoing statements expressly qualify any forward-looking information contained herein. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Chanel Perez, Brand Director & Product Manager
SOURCE PureForm Global, Inc.