International Flavours & Fragrances (IFF) has announced a strategic partnership with health and wellness company Neptune Wellness Solutions.
Neptune specialises in the extraction, purification and formulation of cannabinoids, the naturally occurring compounds found in the Cannabis sativa plant.
Through the partnership, IFF will co-develop hemp-derived CBD products for the mass retail market under the Neptune Forest Remedies brand in the US.
The first launches will include topical products across the aromatherapy category, with additional category launches slated to follow and anticipated to exceed 50 skus.
Michael Cammarata, CEO of Neptune, said: "The agreement represents a significant event in the development of our global cannabis business, expanding our business model from primarily B2B to include a robust B2C business platform.
"IFF has an impressive track record, remarkable capabilities and global reach."
IFF will receive a cut from the sales of the products, which are due to hit retailers in the first half of 2020.
Providing essential oils for the products, IFF will leverage its IP for taste, scent and nutrition.
Nicolas Mirzayantz, Divisional CEO, Scent at IFF, added: "We are pleased to enter this strategic partnership and drive innovation that satisfies customers' demands for quality, sustainability and traceability.
"The hemp-derived CBD products we are developing will target consumer preference towards natural health & wellness products."
