The CBD oil producer Dragonfly Biosciences has fully taken over Premium Extraction Services, which operate a large ethanol recovery plant.
CEO Regan Saveall said the deal complements its seed-to-shelf strategy and would allow the company to manufacture bespoke CBD distillate and isolate in significant quantities.
The Romanian extraction facility enables the delivery of more than a tonne of CBD per month on a large scale.
Dragonfly CBD is on UK Main Street in Boots, Tesco and Sainsbury’s pharmacies.
Saveall added that the acquisition of Premium Extraction Services for Dragonfly Biosciences and its CBD range represents a “significant step forward”.
“We are committed to innovation and investment and we already have our own vertical integrated supply chain that enables us to offer high quality CBD products that are all compliant,” he said.
“By investing as a company, we can ensure that our CBD brand, as always, is safe, legal, and top-notch for quality and consumer transparency.
“With the extraction system, we can control and produce even more premium CBD on a much larger scale. This will support the demand for our current products and allow us to explore different types of CBD offerings. There are only a handful of large-scale, fully accredited institutions in the EU. This is really exciting for us. “
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