Wines and spirits distributor WEBB Banks has revealed a new wholly owned subsidiary, WB Canna Co & Wellness, to focus on the distribution of quality cannabidiol (CBD) and wellness products in domestic markets in the Caribbean and Central America and in travel retail.
“Looking at the rapid growth of CBD and wellness brands, I’ve never before seen that level of consumer enthusiasm for new brands and categories” – WEBB Banks and WB Canna Co & Wellness CEO Andy Consuegra
According to WEBB Banks, the WB Canna Co & Wellness portfolio includes products which will be available for the first time in the regional markets.
WEBB Banks and WB Canna Co & Wellness CEO Andy Consuegra said: “Looking at the rapid growth of CBD and wellness brands, I’ve never before seen that level of consumer enthusiasm for new brands and categories.
“This is a big industry that will only continue to evolve, and we have the experience, market knowledge, and relationships to bring these products to market. Not to mention, we’re launching with truly fantastic brands.”
WB Canna & Co Wellness’ brands line-up includes cbdMD, a CBD and wellness company whose products include CBD oil tinctures, gummies and sleep aids which are available in over 30 countries across the globe.
cbdMD sponsors and supports numerous influencers and athletes including pro golfer Bubba Watson, MMA fighter Daniel Cormier, fuel drag racer Leah Pruett and the NOBULL CrossFit Games.
Docklight Brands is also included in the WB Canna Co & Wellness offer with Marley CBD (inspired by Jamaican singer/songwriter Bob Marley’s ideals and deep-rooted respect for nature) featuring infused teas, wellness shots, chocolates and skincare products.
Other brands in the portfolio include The Goodship collective of CBD-based confectionery; Rommie’s Bloody Mary Jane, a Bloody Mary cocktail mix infused with CBD and Secret Nature organic CBD flowers, vapes, pre-rolls and Rare Earth Medicine (REM) sleep capsules.
WEBB Banks said further high-profile brands will be announced soon.
Consuegra underlined WEBB Banks understanding of the importance of brand and category training and activations. “We know how to navigate complex compliance regulations in a constantly changing environment, so this expansion of our product portfolio was the ideal place for us to grow our business,” he added.
WEBB Banks cited estimates from New Frontier Data indicating that sales in the quickly-expanding CBD industry are expected to reach US$1.3 billion next year, up from US$390 million in 2018.
Other research specialists suggest that CBD sales will reach more than US$20 billion by 2024.
Warehousing out of Miami, the new WB Canna Co & Wellness division will launch its CBD portfolio in Puerto Rico, the US Virgin Islands, Aruba, Jamaica and Bermuda, as permitted by local law. Its broader wellness portfolio, which excludes CBD products, will launch in all Caribbean, Central American and duty free markets.
By the end of 2021, the company expects to open distribution of CBD products in all regulated markets in the region and travel retail.
WB Canna Co & Wellness is led by Chief Operating Officer Phillip Jarrell, WEBB Banks Vice President Sales since 2011. It includes a sales team with deep insight into the cannabis and wellness industries and strong knowledge of regional laws and regulations.
“This extensive local experience gives brands under the WB Canna Co & Wellness portfolio confidence to enter these new markets and the opportunity to expand as more countries legalise use of these products,” WEBB Banks said.
Jarrell noted the “enormous opportunity for CBD and wellness products”.
“We’ve assembled a powerful portfolio of recognised brands that meet many different consumer needs, from mood modulation to sleep, and relaxation to refreshment. With these brands, coupled with new products to come, we expect our CBD and wellness business will double within a year,” he said.
