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The Jordre Well, a hemp and CBD beverage brand incubator that is 49%-owned by Coffee Holding Co., Inc. (NASDAQ: JVA), an integrated coffee roaster, product manufacturer and dealer in North America, was awarded a 3-year hemp processing license by the Ohio Department of Agriculture this week.
This makes it one of 44 licensed hemp processors in the state of Ohio.
The license paves the way for The Jordre Well to manufacture its entire suite of hemp brands and products in its home state. This includes the CBD-infused line extensions for Coffee Holding Co.'s Cafe Caribe and Harmony Bay coffee brands as well as its namesake Jordre Well seltzer brand, which is expected to launch in coming quarters, according to Ian James' recent presentation at the 2021 Sequire Cannabis Conference.
Commenting on the news, Andrew Gordon, CEO of Coffee Holding Co., told Benzinga, “As we scale up production for our impending rollout of our CBD-infused Cafe Caribe and Harmony Bay coffee products, we believe it will be beneficial to be able to manufacture at multiple facilities across the United States. Manufacturing at multiple facilities will allow us to achieve greater efficiencies in logistics as well as customer service. Securing licensure in Ohio was the next step in achieving that goal, with Colorado next on the horizon.”
Ian James, CEO of The Jordre Well, added, “With our Ohio Hemp Processing License in hand, The Jordre Well will strategically locate its research and development of flavors and products in our home state of Ohio, where we are within a day's drive of 151 million people. We seek to interweave our supply chain, research, development, and production with superior logistics. In doing so, our goal will be to provide an incredible value proposition to investors and give consumers excellent tasting plant-based better-for-you beverages.”
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