US-based cannabinoid-based medicines development company Cannabis Science has acquired Bottle It, a manufacturer of polyethylene terephthalate (PET) bottles and containers.
Founded in 2014, Bottle It is a US company that supplies preform and PET bottles to customers across North America and internationally.
The company sells preforms for bottled waters, energy drinks and vitamin shots, tinctures, drops, pill bottles and sprays.
The performs also cater to food containers for rice, flour, milk, dry food mixes, spices, mixed nuts and cookies.
Bottle It also provides PET injection-mould and blow-mould manufacturing services to the food and beverage industry and specialises in the customisation of bottles and containers.
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 manufacturers of beverages, speciality waters, foods, cosmetics, and other products globally.”
The acquisition comes at a time when global market for plastic containers is projected to grow to more than $388bn in 2020, while the US domestic market for pharmaceutical plastic bottles is set to increase to over $9bn by the end of 2024.
Cannabis Science said it will capitalise on the growing demand for plastic bottles and containers for application in unit-dose packaging for pharmaceutical products.