On October 16, Coffee Holding Co., Inc. (Nasdaq: JVA), a leading integrated wholesale coffee roaster and dealer, announced that it has entered in binding agreements to become a 49% owner in The Jordre Well, LLC, a cannabidiol beverage company. The Jordre Well will assist Coffee Holding in the development and commercialization of CBD-infused line extensions for the existing coffee brands within its portfolio, as well as launch new brands that are intended to serve consumer demand for non-coffee CBD-infused beverages and products.

Representing The Ideation Lab, LLC, the 51% owner, in this transaction were Ronie Schmelz, Jayne Juvan, Christopher Hewitt, and Peter Igel.

See the Coffee Holding Co. press release here.