Poko Group (UK) Ltd Agree to Purchase 20% of Rocket Science Supplements
Significantly decreasing product costs & opening distribution channel opportunitiesPoko Group will now enter the enormous Wellness and Supplement marketLONDON, UK and BELFAST, NORTHERN IRELAND / ACCESSWIRE / December 7, 2021 / (CSE:POKO) - Poko …
Significantly decreasing product costs & opening distribution channel opportunities
Poko Group will now enter the enormous Wellness and Supplement market
LONDON, UK and BELFAST, NORTHERN IRELAND / ACCESSWIRE / December 7, 2021 / (CSE:POKO) - Poko Innovations, Inc., an award-winning international UK based CBD & Fintech company, is pleased to announce that their fully owned subsidiary Poko Group UK Ltd has recently entered into an agreement to purchase 20% of ROCKET SCIENCE SUPPLEMENTS LIMITED of Unit 23, Pitcliffe Way Industrial Estate, Upper Castle Street, Bradford, BD57SG (Rocket Science) in exchange for an undisclosed number of shares in Poko Innovations Inc. (POKO:CSE).
Rocket Science Supplements is a UK based contract manufacturer working within the VMS (vitamins, minerals, supplements) markets specializing in encapsulation, with the capacity to produce up to 80,000 (eighty thousand) capsules per hour. Their capsule options include both vegan and non vegan, CBD and non CBD health supplements, which will be available to Poko at base raw materials cost plus 10%, in return for shares in poko Inc. In addition to this the companies have agreed that Poko will have the right of first refusal to purchase the entire company at a later date. Rocket Science's team has a proven track record in the Traditional Herbal Medicine space, and comprises Chemists, Drug Development Pharmacist and in-house compliance experts.
The deal is positioned to give Poko access to low cost production via Rocket Science who have the capacity to produce over 1 Million capsules per day, vegan softgel capsules and time release capsules. The agreement allows Poko Group to produce its own ranges subject to the costs mentioned above.
The partnership will strategically help Poko achieve its distribution goals through decreasing the cost of supplements supplied to the Poko group. This will allow Poko to approach larger distribution chains with more profitable, attractive pricing structures. In addition to this it will allow Poko to expand its product portfolio to include gut health, menopause and other high demand supplements to the market.
Strategic opportunities for Poko:
- Ensures sufficient margins to enable profitable deals with distribution networks
- Increasing revenues possibilities by extending its range into the menopause, testosterone, gut health & other areas where demand is seen.
- Increase margins on existing CBD supplements.
- It's Cannmed white-label division can now add supplements to its range of skincare and CBD products.
- Allows Poko group to develop lines with influencers, like Rugby Star Rob Kearney who signed a 2 year deal with Poko in November 2021.
"This partnership is a very important step in our aim to increase our product footprint with UK & EU distributors who typically demand very high margins, and expand our retail footprint in the UK. It also allows Poko to bring more innovative ideas into development, allowing for a more robust product portfolio.", David Hughes CEO and Co-Founder stated. "Having started early stage discussions with several large distribution networks in the UK, we have received many requests to expand our range to encompass supplements to boost our existing skincare range, so we believe that demand is there".