Avacare Health Australia acquires Cannaponics subsidiary – Hemponics – with goal to establish own nutraceutical brand, Avalife, in Australian market
‘This purchase is one of many Avacare plans in Australia, as the South African-based multinational – Avacare Group – continues to expand in Australia and Southeast Asia as part of its global corporate strategy.’
The purchase of Hemponics aligns with Avacare Australia’s strategy to expand the company’s product lines in the pharmaceutical industry by offering a wider range of high-quality products. Avacare plans to leverage Hemponic’s existing distribution networks, to establish its own nutraceutical range, Avalife. Avalife will join Hemponics and the Hemponics’ sister company, Miss Vitality, as the third brand in the trilogy of health and wellbeing products sitting under the umbrella category of nutraceuticals for Avacare Australia.
Avacare Health Australia Director Raj Singh said: “We are delighted to announce this new acquisition of Hemponics. We know Hemponics products are excellent, and the brand will continue to grow.”
“This purchase is one of many Avacare plans in Australia, as the South African-based multinational – Avacare Group – continues to expand in Australia and Southeast Asia as part of its global corporate strategy. We look forward to strengthening our relationship with pharmaceutical networks, bringing them a greater variety of health and wellness products, including our very-own Avalife range.”
The move to acquire was initiated by Avacare Health, following its strong working relationship with Cannaponics. This relationship was established earlier this year after Avacare signed a Memorandum of Understanding with Cannaponics to develop a pharmaceutical manufacturing facility in Collie, Western Australia. By acquiring Cannaponics’ subsidiary, Hemponics, Avacare hopes to further solidify the ongoing partnership with Cannaponics.
Cannaponics Director and Founder, Rod Zakostelsky said: “It’s always hard to say goodbye to your first born, but we know we are handing it off to the right new relationship. We know our strategic partner Avacare will enable Hemponics to flourish.”
“The move allows us to focus our full attention on the Cannaponics mission itself, which is delivering a global green business – the first of its kind in the world. Cannaponics is passionate about making people’s lives better by encouraging social equity for a cleaner planet through using Cannabis as medicine. This move clears our pathway as we complete our flagship facility, a 100% renewable pharmaceutical manufacturing facility specialising here in Collie, WA.”
Hemponics, a subsidiary of Cannaponics, is an Australian-owned food, supplements, and nutraceuticals brand focused on providing high quality hemp-based products for the wellness and health food market. Hemponics has established itself as a trusted source of high-quality Australian grown and manufactured hemp products. Pamella Zakostelsky ND, Founder of Hemponics and Miss Vitality will move into the pharmaceutical arm of Avacare Health, continuing her involvement with Hemponics in a consulting capacity.
See full media release here.