Cannabis Science Inc (OTCMKTS:CBIS), a leading name in the cannabis industry, acquired Equi-Pharm to enter the pet care industry. As per the reports, the current worth of U.S. Pet Care Industry is more than $60 billion, which opens a host of growth prospects for the company.
Equi-Pharm is a leading distributor and manufacturer of pet grooming, specialty horse grooming and topical applications. With the help of this acquisition, Equi-Pharm can get a hold of large animals like cattle, horse, sheep and small animals like dogs, cats and pet snakes.
The senior management of the company is delighted to have acquired Equi-Pharm and hopes that it will fulfill the long-term goal of the company in an effective way. Cannabis Science always wanted to enter into pet care industry, and this acquisition has given it a perfect chance to do so.
Equi-Pharm’s management team is equally happy to be a part of this acquisition. According to Dana Kennamer, Vice President, Equi-Pharm, it’s an amazing opportunity for Equi-Pharm. Cannabis Science is a leader in marijuana field and possesses huge experience. Under their solid leadership, the future of Equi-Pharm is secure and bright. So far, the company has received a great response from its customers and hopes to receive the same in the future as well.
As of now, Equi-Pharm is working on first three cannabinoid-enriched pet products that are likely to be available in the pet market very soon. The company has a limited market share in U.S. pet industry, but after the successful acquisition transaction, it cannot only use the wide network of Cannabis Science Inc (OTCMKTS:CBIS), but also get benefitted by its expert knowledge. As per the reports, it runs operations across Tennessee, California, Ohio, Kentucky and Louisiana as of now, but the situation is likely to change in the near future. It will further update as and when any advancement takes place.
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