Aurora Buys Euro Hemp Firm Agropro
Edmonton-based Aurora Cannabis (TSX: ACB) (OTC: ACBFF) recently bought Europe’s largest organic hemp company Agropro, and its sister company, hemp processor and distributor Borela.
Agropro is a hemp seed contracting and processing company. Its sister company, Borela, is a processor and distributor of organic hulled hemp seeds, hemp seed protein, hemp flour and hemp seed oil.
Agropro has 4,000 acres under contract, potentially yielding over 1 million kg of organic hemp. It has additional contracts to nearly double that acreage in Lithuania, Latvia, Estonia and Poland.
Previously, the companies sold hemp seed-based products to Europe, North America and Asia, but left large quantities of CBD-containing hemp biomass in the field, unused. Aurora intends to produce the organic hemp biomass into organic CBD-based wellness products for a growing international market on five continents.
Due to its high protein content, hemp is also an increasingly sought-after food supplement and meat substitute for the growing health food, vegetarian and vegan markets. Through its subsidiary Hempco, Aurora is pursuing hemp food market opportunities.
Borela’s hemp grain processing facility is the only European hemp company facility with a BRC quality certificate, enabling it to supply supermarkets. Borela also has USDA Organic and Eco-Cert certifications, letting it market products across markets.
Agropro’s and Borela’s organic certification allow the launch of new products, improving the firm’s margin profile.
Source Aurora Cannabis press release
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Aurora Buys Euro Hemp Firm Agropro
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