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22nd Century Group’s GVB Biopharma Opens New Central Distribution Facility in The Netherlands
New distribution facility supports rapidly growing demand for hemp/cannabis products BUFFALO, N.Y., Nov. 16, 2022 (GLOBE NEWSWIRE) -- GVB Biopharma, a 22nd
About this update from 22nd Century Group, Inc
[{"type":"text","content":"New distribution facility supports rapidly growing demand for hemp/cannabis products\nBUFFALO, N.Y., Nov. 16, 2022 (GLOBE NEWSWIRE) -- GVB Biopharma, a 22nd Century Group company (Nasdaq: XXII), today announced that it has opened a new, strategically-located distribution facility in the Netherlands to support its growing business in Europe, the Middle East, and Africa (EMEA). The new distribution facility will increase existing and new customer access to GVB’s quality hemp/cannabis products, speed up transaction flow, and optimize cross border tax and customs treatment. Recent increases in GVB’s U.S. manufacturing capacity are complementary to the advent of the Company’s Netherlands distribution facility. Additional capacity is in part earmarked to satisfy increasing demand in European markets where margins are higher than in the U.S. “We are excited to expand our business operations in Europe, allowing our customers and partners to access quality products in a more efficient manner,” said James A. Mish, chief executive officer of 22nd Century Group. “With our new Netherlands distribution facility, we can now deliver product to our partners in half the time and better serve our growing customer base with quality distillate and isolates. In Europe, the hemp/cannabis industry is expanding rapidly and is expected to reach €3.2 billion by 2025. Our new facility will allow us to capture more of that market share, scale our operations, and expand our customer base in this region.” About GVB BiopharmaGVB Biopharma, a 22nd Century company, is a global-scale specialty ingredient supplier and contract development & manufacturing organization (CDMO) with manufacturing locations in Nevada and Oregon. GVB is the largest merchant provider of cannabinoid extracts and isolates in North America with a focus on cannabidiol (CBD) and cannabigerol (CBG) extracted and refined at an industrial scale into distillates and isolates. GVB Biopharma’s facilities are NSF International audited and are cGMP Registered for dietary supplements manufacturing. GVB is widely regarded as a best-in-class operator with a leading position in the hemp-derived active ingredients market, with around 15% market share and growing. GVB is also a white-label contract manufacturer of tinctures, gel capsules, gummies, mints, tablets, topical, and vape offerings. About 22nd Cen...