Leading Canadian Cannabis Brand Ghost Drops Enters into an Agreement with SOMAÍ Group for Global Distribution
The partnership opportunely positions Ghost Drops and SOMAÍ Group to succeed in the EU, UK, and Australian Cannabis Markets
TORONTO, May 28, 2024 /CNW/ - Ghost Drops ("the Company"), a leading Canadian cannabis brand, is poised to disrupt the global cannabis market via an exclusive partnership with SOMAÍ Group, an established international cannabinoid biopharma company with premiere distribution channels. Per the supply and distribution agreement, Ghost Drops-branded products will initially be rolled out across Europe, the United Kingdom, and Australia. The deal perfectly positions the Company to capture market share in cannabis markets across Europe and beyond.
The partnership allows SOMAÍ Group, a leading global brand with the most robust pipeline of innovative cannabis-based products, to import high-quality Ghost Drops-branded cannabis for medical use in several international markets. All products bearing the Ghost Drops branding will be meticulously curated by the Ghost Drops team and cultivated in Canada by the brand's exclusive craft producer partners. The partnership rollout begins in Germany, subsequently bringing Ghost Drops cannabis products into emerging markets such as in the rest of Europe, the U.K., and Australia. Taken together, the target regions represent massive growth potential as local legalization efforts progress.
"We seek highly successful, well-positioned cannabis companies to prioritize for global brand partnerships, and Ghost Drops is precisely that," said Tom Flow, Managing Director of SOMAÍ Group's subsidiary RPK Biopharma. "Together, SOMAÍ Group and Ghost Drops will introduce European, U.K., and Australian markets to top-tier Canadian cannabis products, bringing quality relief to patients internationally."
Ghost Drops has seen tremendous success within the Canadian market, cultivating a dedicated following of loyal consumers since pre-legalization. Ghost Drops' launch into the regulated market was met with extreme excitement and has been credited for transitioning many illicit consumers into the legal space. Years later, the brand still holds the title of the two fastest-selling SKUs in Canadian history and the two fastest-selling SKUs in the premium category. With a demonstrated ability to drive hype, awareness, and sales, Ghost Drops is poised to replicate these successful strategies in foreign markets.
"We are excited to expand the Ghost Drops brand globally and look forward to working with the SOMAÍ team to rapidly scale in the European market," says Ghost Drops CEO Gene Bernaudo.
"As a premier legacy-to-legal cannabis brand, Ghost Drops continues to pave the way for independent Canadian cannabis brands to expand globally," said Bernaudo. "With a proven formula and turnkey business model, we have an opportunity to establish formidable roots to dominate the European and new emerging recreational markets." Having already established the brand as a top-selling brand in the Ultra-Premium category domestically, Ghost Drops is committed to the same level of quality as we look to expand internationally."
Germany presents a notable expansion opportunity for Ghost Drops and SOMAÍ Group, especially following the recent Cannabis Decriminalization Act by the government on April 1. This legislation removes cannabis from Germany's Narcotics List, allowing adults to possess up to 25 grams for personal use and grow up to 3 plants at home. Cannabis reclassification also impacts the medical prescription of cannabis-containing medicines. Now, medicinal cannabis can be prescribed on a regular prescription — an essential change for patients that enables easier access to cannabis therapy.
SOMAÍ Group brings extensive experience with the regulatory and cultural movements of European markets, including Australia, to the Ghost Drops distribution partnership. "A global regulatory change is taking place, and SOMAÍ's concentration on direct sales and distribution in all major countries will allow for the greatest reach of the Ghost Drops brand," said SOMAÍ Group Founder and CEO Michael Sassano. "Ghost Drops is an outstanding legacy brand that deserves to be at the forefront of the next big international cannabis boom. SOMAÍ Group couldn't be more thrilled to bring Ghost Drops' full product lines to the global medical cannabis world."
Ghost Drops has continued to expand and innovate since the Company's transition to the regulated market in 2018. Its story and branding are unique and will undoubtedly resonate with consumers in emerging markets. This international expansion is a natural subsequent step in the brand's progression, marking a significant moment for Ghost Drops and bringing true cannabis culture to a worldwide stage.
SOMAÍ Group is a leading EU-GMP European biotech company with a global footprint of distribution for the largest and most advanced EU-GMP-certified cannabinoid-containing portfolio. At SOMAÍ, we are building a leading global brand with the most robust pipeline of innovative cannabis-based products.
SOMAÍ Group owns a state-of-the-art manufacturing facility, SOMAÍ Pharmaceuticals, and indoor cultivation RPK Biopharma in Lisbon, Portugal. It has global sales teams in the largest medical cannabis markets. We continue to make acquisitions and global brand partnerships, making us one of the few vertically integrated companies in the EU able to cater to the diverse needs of fast-growing European cannabis markets.
Ghost Drops is a trend-setting Canadian cannabis brand that delivers the best premium indoor flower products through exclusive partnerships with award-winning breeders and cultivators. Initially established in the pre-legal market, Ghost Drops has built a loyal cult following by setting the standard of cannabis excellence in Canada. The brand is now offering the same level of product quality, unique genetic curation and excitement to a global stage with international expansions in Germany, Australia, the UK and beyond.
SOURCE Ghost Drops
For media and related inquiries: Colin Bambury, Head of Marketing, Ghost Drops, [email protected]
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