The plan by 2023 is to increase the volume to 3 million seeds more than 1.1 tons of dried flowers.
Published on 15/12/2021
By Forbes Staff
Image: Breedco.
The United Kingdom, Europe, Canada, South Africa, Australia, the United States, and several Latin American countries will be some of the receiving markets for seeds and dried flowers from the American Kinetiq Group and the Colombian-British Breedco.
Breedco, founded in 2017, participated in the 2020 Colombia Investment Summit, ProColombia’s investment conference where it presented its business plans and space in which it established an approach with the American company Kinetiq Group, which was associated with Breedco to leverage with financing and knowledge, the expansion and internationalization of the medical cannabis producer.
Kinetiq Group is an American full-service business development and financial advisory company founded in 2012 with a presence in the United States, Colombia, and the Netherlands. Its objective is to provide clients and investors with commercial and industrial knowledge, financial and real estate solutions focusing on innovation, sustainability, and impact for edtech, medical cannabis, ecosystems, and internationalization initiatives.
“Colombia is a strategic entry point to Latin America, thanks to its positive business environment, general stability, and diversity of talented professionals. From Colombia, Kinetiq operates service activities in markets such as Mexico, Panama, Peru, Ecuador, Argentina, and Chile thanks to connectivity through ports and airports with international connectivity”, said Ken Grams, CEO, and founder of Kinetiq.
For its part, Breedco has an international team of experts, from the United States and the United Kingdom, who have joined the Colombian national talent, guaranteeing the sustainability and viability of the company in all fields: from banking, cultivation, intellectual property, logistics, agreements, and international sales, among others. Breedco stands out for implementing business lines sustainably (one by one), generating scaled and organized income, guaranteeing stability, uniformity, traceability, and quality in each type of product; starting with the national sale and export of seeds. Kinetiq’s investment is intended to accelerate the production and export of dried flowers, as its second line of business.
BreedCo has invested US$1.7 million in its consolidation and will receive an additional US$1 million from Kinetiq and in the next two years another reinvestment in the industry to strengthen marketing activities abroad. In its internationalization phase, Breedco chose the United Kingdom as a collection center to serve European customers, while Kinetiq will be exclusively in charge of sales in the United States.
By 2022, the company that has its production in the municipality of Vijes, located in Valle del Cauca, estimates a production capacity of 2.2 million seeds. By 2023, it is expected to increase the volume to 3 million seeds and more than 1.1 tons of dried flowers, which together would represent more than US$7 million in sales in that year. With this strategic alliance, the estimated impact (direct and indirect) is expected to reach more than 100 jobs.
“From Invest Pacific we are very happy to accompany Breedco on its arrival in Valle del Cauca, a medical cannabis company that supports sustainable development with its operation in the Vijes municipality. Now with its expansion in the region, together with the Kinetiq Group, we will continue to work hand in hand to generate more formal jobs and enrich our business network”, highlights Alejandro Ossa, executive director of Invest Pacific.
Breedco’s production scope by 2024 is estimated at nearly 4 million seeds and 1.3 tons of dried flowers with further scale-up capabilities, as Kinetiq strives to consolidate strategic relationships in the United States, and strengthen the Breedco subsidiary. Breedco in the UK, through the Kinetiq subsidiary located in the Netherlands.
Breedco and Kinetiq have had the support of Invest Pacific and ProColombia, both in the connection and in the export process, linking the companies with the regulatory entities of the different markets and countries of destination.
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