China-based sweetener and drinks company Layn Corp. plans to enter the CBD industry with a $60 million investment in a hemp processing facility.
According to Food Navigator-USA, Layn, known for stevia and monk fruit-flavored drinks, will extract CBD from hemp for use and produce CBD-infused beverages.
The company plans agreements with hemp farmers in 2019 and collaboration with universities to develop a CBD-rich variety.
Layn's US president Elaine Yu said: “CBD products remind me of the stevia craze that began ten years ago.”
