Open Book Extracts Enters South Africa Market with Strategic Distribution Partner, Strengthening Global Reach
To serve a recently estimated $6.4 billion market opportunity for cannabis in South Africa, OBX was named a principal distribution partner of Peter Bodill Agencies (PTY) LTD of South Africa.
ROXBORO, N.C., July 31, 2020 (GLOBE NEWSWIRE) -- With demand increasing for quality, high-purity cannabinoid ingredients like CBD, THCV and CBN globally, leading cannabinoid-based health and wellness producer, Open Book Extracts (OBX), has expanded operations and secured distribution channels into Asia, Israel and most recently, South Africa.
To serve a recently estimated $6.4 billion market opportunity for cannabis in South Africa, OBX was named a principal distribution partner of Peter Bodill Agencies (PTY) LTD of South Africa. With more than 30 years in the agency/distribution business in South Africa, Peter Bodill Agencies represents manufacturers that specialize in supplying some of the world’s finest products, such as vitamin mixes, probiotics and industrial ingredients throughout the entire country. OBX joins global commercial distribution partner, Prinova Nagase Group, in a short list of principals vetted and approved by Peter Bodill Agencies for South African distribution.
“Quality, safety and reliability are essential in the burgeoning South Africa cannabis market,” stated Peter Bodill, director of Peter Bodill Agencies LTD. “The caliber of the team and products from Open Book Extracts has exceeded our expectations. We are excited to be able to provide its high-quality CBD products, innovative cannabinoid blends and pure rare cannabinoids to our clients.”
In addition to the South Africa distribution channel, OBX expanded its footprint into Asia, appointing Laurie Goldberg as OBX Asia’s chief executive officer. Goldberg, who founded and recently sold AmeriCraft Imports Limited, a Hong Kong-based craft beer importer and distributor, will lead expansion efforts into the Asia market.
“With the demand for CBD products in Asia growing rapidly, it is paramount for leading brands to have a reputable, quality supplier like Open Book Extracts,” stated Goldberg. “The fact that OBX is cGMP certified, able to deliver pharma-grade purity levels and is well versed in global market distribution ensures that we will meet the Asian market demand for high-quality, safe cannabinoid products.”
“We’re thrilled to expand our footprint to provide safe and efficacious cannabinoid products worldwide,” stated Dave Neundorfer, chief executive officer at OBX. “While we are glad to see countries roll out regulations to permit non-THC cannabinoids in food, beverages and personal care products, we’re also planning clinical trials for safety and efficacy to support dietary supplement and pharmaceutical registrations.”
The establishment of global distribution channels follows closely on the heels of Open Book Extracts’ recent acquisition of Chilmark Labs and its Israeli affiliate, Beetlebung Pharma Ltd., enabling the manufacturing of high-purity rare and minor cannabinoids at commercial scale, and further unlocking the therapeutic potential of cannabinoid-based products.
About Open Book Extracts
Headquartered in Roxboro, N.C., Open Book Extracts is a cGMP certified manufacturer of premium plant-based cannabinoid products, aiming to be the industry’s true north by delivering premium products, exceptional service and industry-leading transparency. With control of the entire supply chain, a state-of-the-art extraction campus near North Carolina’s Research Triangle, a pharma-grade research facility in Israel, proprietary refinement and conversion methods backed by a growing patent portfolio, and a team of Ph.D. chemists and seasoned business leaders, OBX is positioned to be the trusted partner for global brands seeking to enter the marketplace. For more information, visit www.openbookextracts.com.
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