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Flora Growth Corp. (NASDAQ: FLGC) announced today that its newly acquired brand, JustCBD, has signed a deal with airport distribution juggernaut OTG Management to sell their CBD products in airports.
As part of the deal, JustCBD will begin selling its premium CBD products in US airports through distribution company OTG Management, which is a leading operator of airport restaurants and retail storefronts.
“Airport retail sales represent a billion-dollar business and we’re proud to have our JustCBD brand be accepted as one of the first world-class CBD lines of product to be distributed in US airports,” Flora CEO Luis Merchan said. “As Flora continues to execute on its strategy to build a global house of brands and become one of the world’s largest distributors of cannabis derivatives, availability of JustCBD products in airports across the US is a meaningful step forward in our growth. We hope to expand our relationship with OTG as we explore the opportunity their significant footprint represents across our house of brands.”
OTG Management placed orders to distribute JustCBD’s night-time gummies and its regular JustCBD gummies in Houston’s George Bush Intercontinental/Houston Airport (IAH) and Washington, DC’s, Ronald Reagan Washington National Airport (DCA). Flora expects future orders to extend to additional products and other airports in the US.
The CBD gummy market is the fastest-growing segment of the burgeoning CBD industry, with a projected compound annual growth rate of 30.7% from 2021 to 2028, according to Grand View Research, representing a $13.28 billion market opportunity.
