Ikänik Farms has signed a three-year supply agreement with Yura Group for the company’s full line of hemp-based CBD products.
The supply agreement with Yura is focused on the US and LATAM markets, with a minimum annual purchase quantity of 240,000 finished units.
“We are very excited to partner with Ikänik Farms and apply Yura’s commercial capabilities and decades of success in direct sales to US and Latin American markets. With the rapid regulatory changes occurring throughout LATAM, we anticipate having products available for sale in LATAM countries by Q3, 2021” said Mariano Cariola, President of Yura Group.
The cosmetic based product suite includes tinctures, topical creams, rubs and balms. Ikänik Life is responsible for finished product formulations and will collaborate with Yura on new product development to support consumers growing demand of hemp CBD-based products.
“We are excited to announce our partnership with Yura Group, whose founders have a strong reputation for distribution excellence in the LATAM marketplace,” said Brian Baca, CEO of Ikänik Farms. “We look forward to growing with our partner, not only to advance the industry geographically, but also categorically.”
Yura Group brings more than 20 years of experience through its founding partners in direct response sales of cosmetics and food supplements to millions of Latin people in the US and LATAM countries and specializes in the international distribution of medicinal cannabis-derived products to pharmaceutical industry, retailers, and final consumers without intermediaries. Yura Group currently sells CBD based products in the US and has registered its products in Colombia, Mexico, Peru and Ecuador.
“The Yura Group agreement will help expand the Company’s footprint into 8 additional countries, broadening our reach to our target consumers, globally.” said Borja Sanz de Madrid, President of Ikänik International, Inc.
About Ikänik Farms
Ikänik Farms is a California based, Multi-National Operator (MNO) who is building a dynamic portfolio of brands, inspired by its passion for health and wellness, action sports, and supported by its vertically integrated retail, distribution and cultivation in CA and its medical grade cultivation and laboratory in Colombia. The company’s leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance. Ikänik Farms’ operation in Colombia, through its pharma division Pideka, holds both GMP-PHARMA and (GACP) Good Agricultural and Collection Practice certifications for its Casa Flores operating facility.