South African liquor group Distell and Invenfin, the venture capital arm of Remgro, have entered into a partnership with Releaf Pharmaceuticals to share ownership in South African cannabis wellness brand Rethink. Bizcommunity reports that Distell and Invenfin have each purchased a 20% stake in the Rethink brand and range of products to establish a three-way partnership, with a vision of building a compelling portfolio of cannabis-based brands across product categories in this growing sector.
Rethink was launched by Releaf Pharmaceuticals in October 2019. The product range includes CBD oils, capsules, teas and skincare products, which are available in leading national and independent pharmacies.
With its strong technical and regulatory expertise in the cannabis industry and a broad market footprint, Releaf Pharmaceuticals is responsible for the successful growth of Rethink, which is the first cannabis wellness brand to be endorsed by the Cannabis Research Institute. With a worldwide shift towards legalisation of cannabis products, the sector is poised for growth with an estimated global market size of $166bn. In South Africa, CBD preparations containing no more than 20mg per daily dose have been allowed to be sold legally since 2019.
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