Canadian frozen beverage producer Blender Bites Ltd. has entered into an agreement to acquire all issued and outstanding share capital of Advanced Sports Nutrition Inc., which holds the rights to a human clinical trial funded by the National Football League (NFL), aimed at finding the optimal amount of CBD for athletic recovery, according to a release distributed by Blender Bites.
Advanced Sports Nutrition holds all intellectual property rights to the scientific data and discoveries from the clinical trial, which is being conducted at the University of Regina and was awarded more than US$500,000 in funding from the NFL.
Blender Bites was founded in 2017, and it has developed and marketing frozen beverage products that consumers use with liquid to blend or shake into smoothies, with the 1-Step Smoothies and 1-Step Frappes distributed across Canada and the U.S. in more than 3,000 stores, including Walmart.
The company’s products focus on health and wellness attributes, and it expects the acquisition to give it a better opportunity to target the athletic drink marketplace. It hinted, in the announcement, of the potential for a new product line that would offer a one-stop solution combining the elements of training and recovery into a single sports drink through Blender Bites’ portfolio. In addition, access to the study will give Blender Bites exclusive insights to help it formulate any new products geared toward the sports nutrition marketplace.
With the acquisition, Blender Bites intends to diversify its revenue streams by venturing into the athletic recovery and CBD wellness market, the company said in the announcement.
