Greene Concepts, Inc. announced that it is in discussion with a firm to purchase its sports hemp beverage company as a wholly owned subsidiary under the Greene Concepts banner. The sports hemp beverage company is a manufacturer and distributor of all-natural hemp infused sports drinks available in multiple flavors. This will extend Greene Concepts’ reach into the sports drink industry valued at $22.37 billion in 2018 with a compound annual growth rate (CAGR) of 7.8% over the forecast period according to Grand View Research.
It is estimated that about 60% of males and 40% of the female population in the US are usual consumers of sports drinks, amounting to over 165 million people. The US population as of the April 1, 2020 US Census was 331,449,281. The possible acquisition of this new company features a brand of products that include quality produced hemp extract to capture a portion of the sports drink market and subsequently a notable part of the US population. Each product maximizes potency and bioavailability (the rate at which hemp is absorbed into the bloodstream).