16th Feb 2023 10:45
(Alliance News) - Chill Brands Group PLC on Thursday said products from Mad Tasty, a US-based brand of hemp-infused drinks, are now available for purchase by US consumers on its website.
Shares in the Grand Junction, Colorado-based CBD products company were up 1.3% to 3.90 pence each in London on Thursday morning.
In the coming weeks, Chill Brands and Mad Tasty will engage in various cross-promotional activities to drive engagement and sales. Chill Brands will earn commissions from all sales made on the site.
Chill Brands said it "intends to develop the site as an online destination for sales of unique products while championing categories of in-demand consumer-packaged goods that may be underserved or overly restricted by existing eCommerce marketplace sites."
The company added that it has reached agreement with five additional brands and continues to negotiate with numerous others with a view to selling their products on its marketplace.
Chief Executive Callum Sommerton said: "This is the first visible step towards the creation of a marketplace on Chill.com, which we intend to aggressively develop as a home for novel products, natural ingredients, and compelling brands. Most importantly, this marketplace model will also serve as a scalable new revenue stream that will complement the imminent expansion of our own 'Chill' branded product range."
By Sophie Rose, Alliance News reporter
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