GVB Opens Distribution Facility in Netherlands

GVB Biopharma has opened a distribution facility in the Netherlands to support its growing business in Europe, the Middle East and Africa. The new facility will increase customer access to GVB’s hemp/cannabis products, speed up transaction flow and optimize cross-border tax and customs treatment, according to GVB parent company 22nd Century Group.

Recent increases in GVB’s U.S. manufacturing capacity are complementary to the advent of the company’s Netherlands distribution facility, the company noted. Additional capacity is in part earmarked to satisfy increasing demand in European markets where margins are higher than in the U.S.

“We are excited to expand our business operations in Europe, allowing our customers and partners to access quality products in a more efficient manner,” said 22nd Century Group CEO James A. Mish in a statement.

“With our new Netherlands distribution facility, we can now deliver product to our partners in half the time and better serve our growing customer base with quality distillate and isolates. In Europe, the hemp/cannabis industry is expanding rapidly and is expected to reach €3.2 billion [$3.33 billion] by 2025. Our new facility will allow us to capture more of that market share, scale our operations and expand our customer base in this region.”