Flora Growth Establishes On-the-Ground Presence in UK and EU

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has announced its expansion into the European and UK markets with a new office in London. This initiative aims to enhance the distribution of its JustCBD product line, which includes 79 products registered with UK Novel Foods. The company will also open a new location in Prague and partner with Hoshi to distribute its products across 11 countries, including Germany and Italy. CEO Luis Merchan emphasized that this expansion will help increase market share and provide valuable insights for future innovations.

Positive

• Opening of a new office in London to enhance distribution efforts.
• Expansion into the European market with a new location in Prague.
• Partnership with Hoshi for distribution across 11 European countries.

Negative

• None.

• Flora wellness brand, JustCBD has opened a new office in London to service the United Kingdom and EU distribution of Flora’s branded portfolio products
• Flora will expand its footprint in the European market through a brick-and-mortar JustCBD outpost in Prague and partner with Hoshi to distribute Flora’s portfolio of products to 11 countries
• Cross-selling efforts begin as Vessel, MIND Naturals and JustCBD see increased European interest in April

 

FORT LAUDERDALE, Fla. & TORONTO--(BUSINESS WIRE)-- Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today that the Company is expanding its operational footprint in Europe and the United Kingdom, furthering its international growth strategy.

The London-based offices will serve as the regional headquarters for its sales force and management of its distribution centers in the UK and Netherlands. The expansion signals an assertive push to broaden the reach for JustCBD’s 79 products registered with UK Novel Foods and paves the way for meaningful distribution of Flora’s house of brands.

In addition, Flora bolsters its strategic positioning in the region by partnering with Hoshi to distribute the Company’s broader product portfolio to 11 countries, including Germany, Portugal, the UK, Italy, Poland, the Czech Republic, Denmark, the Netherlands, Switzerland, Malta, and Macedonia.

“Establishing our roots in the UK and EU will not only afford us opportunities to increase our distribution and grow market share, but it will generate actionable market insights for our team to continue to innovate and deliver the most compelling experiences we can,” said Luis Merchan, President and CEO of Flora. “The latest global expansion highlights our commitment to driving exponential growth and scale.”

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions. Visit www.floragrowth.com or follow @floragrowthcorp on social media for more information.

Cautionary Statement Concerning Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; our environmental and sustainability practices and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005430/en/

Investor Relations Contact:

James Williams

james.williams@floragrowth.com

Public Relations Contact:

Cassandra Dowell

+1 (858) 221-8001

flora@cmwmedia.com

Source: Flora Growth Corp.

FAQ

What recent expansion did Flora Growth Corp. (FLGC) announce?

Flora Growth Corp. announced its expansion into the UK and European markets, including a new office in London and a location in Prague.

How many products does JustCBD have registered with UK Novel Foods?

JustCBD has 79 products registered with UK Novel Foods.

Which company is Flora Growth partnering with for distribution?

Flora Growth is partnering with Hoshi to distribute its products across 11 countries.

Which countries will Flora Growth's products be distributed to?

Flora Growth's products will be distributed to Germany, Portugal, the UK, Italy, Poland, the Czech Republic, Denmark, the Netherlands, Switzerland, Malta, and Macedonia.

What is the significance of Flora Growth's new office in London?

The London office will serve as a regional headquarters for sales and distribution management in the UK and Netherlands.