Cannabis Science has acquired California-based Bottle It, which manufactures polyethylene terephthalate (PET) bottles and containers.
Bottle It is a PET injection-mold and blow-mold manufacturer, which serves customers in the the food and beverage industry.
Located in Corona, Bottle It supplies preform and PET bottles to customers across North America and globally.
Founded in 2014, Bottle It operates 27,000ft² bottling facility for manufacturing different preforms for various bottled waters, energy drinks and vitamin shots, tinctures and drops.
The firm also produces various pill bottles, sprays, and various food containers for rice, flour, milk, dry food mixes, spices, mixed nuts and cookies.
According to Cannabis Science, the global market for plastic containers was around $273bn in 2014, and is expected to rise to over $388bn in 2020.
The market for pharmaceutical plastic bottles was more than $6.5bn in 2016 in the US, and is expected to increase to over $9bn by the end of 2024.
In Asia and other emerging regions, the use of plastic is increasing in end-user industries such as healthcare and bottled water.
Cannabis Science president, CEO and co-founder Raymond Dabney said: “Cannabis Science’s acquisition of Bottle It contributes significantly to our company’s growth strategy and solidifies our capabilities as a manufacturer.
“Cannabis Science now has the in-house capacity to manufacture PET bottles and containers for Cannabis Science’s consumer products, as well as to manufacture bottles and containers for other manufactures of beverages, specialty waters, foods, cosmetics, and other products globally.”
“The acquisition of Bottle It gives Cannabis Science a foothold in this important market segment with existing products, as well as the ability to add many of our own products.”
The acquired business will help Cannabis Science to increase its manufacturing capability and product line.
Cannabis Science is specialized in the development of cannabinoid-based medicines for the treatment of illnesses caused by infections and age-related illness.
Image: Bottle It operates 27,000ft² bottling manufacturing facility. Photo: courtesy of Cannabis Science, Inc.