THE WHAT? Neptune Wellness Solutions has announced that it has entered into a collaborative agreement with International Flavors & Fragrances (IFF) to co-develop hemp-derived CBD products for the mass retail and health and wellness markets.
THE DETAILS IFF brings essential oils and product development resources to the table while Neptune will leverage its cold ethanol extraction process and formulation IP to deliver extracts for the range.
The first line – a topical aromatherapy range – is expected to hit shelves across the US under Neptune’s Forest Remedies brand in the first half of next year. The final SKU count is expected to pass 50.
THE WHY? The CBD category shows no sign of slowing, and by entering into the B2C arena, both parties stand to benefit from the boom.
“With health & wellness a key pillar of IFF’s strategy, we believe this new partnership will greatly benefit from IFF-LMR’s global expertise and leadership in naturals,” said Christophe de Villeplee, IFF’s SVP Global Consumer Fragrance.
“This partnership will accelerate Neptune’s vision and growth strategy to be the leading producer of hemp extracts ingredients and finished products for the global health & wellness and Consumer Packaged Goods industries. We are also now better positioned to leverage our management’s experience building brands and relationships with key North American retailers,” stated Michael Cammarata, CEO of Neptune.