The global medicinal cannabis company’s new deal with Polvet takes Creso’s global footprint into Eastern Europe for the first time, and into the lucrative animal health market. Polvet will distribute a range of Creso’s animal products in Poland which includes hemp granules, oils for pets, and the Anibidiol hemp flour-based for large companion animals and livestock.
(ASX:CPH), is about to expand its animal health business into Eastern Europe, signing a letter of intent with Polish company, Polvet Healthcare Teodorowski Spółka Jawna.
The deal means Polvet will market and distribute Creso’s Anibidiol product lines for the pets and livestock market in Poland.
This deal came just days after Creso announced that it has finalised the development of its new hemp flour-based Anibidiol swine product.
The Anibidiol range is used to manage the stress and improve the well-being of both companion animals and livestock.
The agreement today expands Creso’s footprint in Europe and represents its first entry into the Eastern European market.
Creso believes that Poland has the potential to become a major opportunity for the company, given its 38-million strong consumer market, along with one of the largest pet markets in the Central-Eastern European region.
Latest data shows that the Polish animal health market includes 7.7 million dogs, 6.6 million cats, and 11 million pigs.
The data also shows that the swine feed market is projected to grow to US$148 billion by 2027, based on a population of over 150 million pigs in Europe and 67 million pigs in Latin America.
But to execute in the market, it needs to have the right partner and Creso believes it has found one in Polvet.
The Polvet group is a market veteran and has been in operation since 2008, establishing a strong network across Poland.