2 Israeli firms sign deal to make CBD cosmetics with Dead Sea minerals

cbd cosmetics
People float in the Dead Sea near the West Bank Jewish settlement of Mitzpe Shalem, Dec. 1, 2012. (File image via Reuters)

Two Israeli companies have signed a deal to take the CBD cosmetic industry to a whole new level by combining the soothing cannabidiol with Dead Sea minerals. 

Israel’s Together Pharma Ltd., a manufacturer and distributor of medical cannabis, has signed a deal with local skincare firm Premier Dead Sea Cosmetics Laboratories to produce the CBD-based line of therapeutic and cosmetic products, The Times of Israel reported on Monday.

The two companies will create a Europe-based joint venture for the CBD cosmetic line, according to a filing on Monday to the Tel Aviv Stock Exchange, where Together’s shares are traded.

Premier is expected to the supplier of the Dead Sea minerals-laden creams while Together will be funneling the joint venture firm with CBD, the non-psychoactive component found in cannabis, also known for its anti-inflammatory properties.

The filing said that the deal has a “big marketing potential.”

The joint venture will set up a packaging and processing plant in the second stage, stipulating Together to provide with a 2 million euro loan. Together will hold 51 percent of the joint company, while Premier will hold a 49 per cent stake.