South Africa's first dedicated CBD store is opening courtesy of AIM3 Ventures Inc. and its transaction target Southern Sun Pharma.
The retail and distribution venture will be branded under the company's Goodleaf brand, AIM3 Ventures announced Wednesday.
The company also announced that it acquired the online CBD retailer Africanpure.
The South African market is one to watch in the global cannabis landscape. By opening in Cape Town, Southern Sun Pharma said it's positioning itself as a pioneer in the country's legal cannabis market.
Need more cannabis news? Check out all of our coverage here.
Jonni Katz, Southern Sun Pharma's head of brand and retail, said the company is excited to bring Goodleaf to market.
“The flagship Goodleaf store will offer consumers a well-curated and unique experience in an exclusive downtown space. This store will be the first of a number of premium cannabis stores that we intend to open in high-end retail locations across South Africa," Katz said in a statement.
Southern Sun Pharma CEO Warren Schewitz discussed the significance of its acquisition of Africanpure.
“As a vertically integrated cannabis company at the forefront of the transformation of the African cannabis market, we are excited to be building a leading, uniquely African cannabis retail brand."
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Images courtesy of Souterhn Sun Pharma.
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