Charlotte’s Web Hemp-Derived CBD Products Will Soon be Available in 22 U.S. States
The clear cut hemp-derived CBD market leader has added to that lead today with a major announcement leaving their competition in the dust. Charlotte’s Web (TSX: CWEB) (OTCQX: CWBHF) reported a landmark deal this morning with America’s largest grocery retailer that will see the company’s CBD products rolled out across the nation.
Kroger has officially begun carrying Charlotte’s Web branded products in multiple states and have a gameplan that involves distributing the company’s product to 1,350 stores throughout 22 U.S. States. The States included in the nationwide rollout are Arizona, Arkansas, Colorado, Georgia, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Montana, Nevada, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, West Virginia, Washington, Wisconsin, and Wyoming.
Today’s announcement marks the largest ever single store retail deal in Charlotte’s Web company history. The deal also helps solidify the emerging hemp CBD market with Kroger being a very well established and trusted name in retail. The company’s topical CBD products will be available at the following Kroger Family of Stores: Kroger, Dillons, Fry’s, Fred Meyer, King Soopers, Mariano’s, Pick ‘n Save, QFC and Smith’s.
“Since its founding, Charlotte’s Web has been on a mission to make CBD products available for as many people as possible,” said Deanie Elsner, CEO of Charlotte’s Web. “This distribution reach through Kroger’s market-leading network of grocery stores is an enormous contributor to our mission. We are very appreciative of Kroger and all of our channel partners for the continued progress in expanding access to hemp-based health and wellness products.”
The Kroger deal brings the company’s mass grocery footprint to a total of 5 retailers coving 22 U.S States. When combined with specialty retailers, Charlotte’s Web now boast an impressive retail distribution network that includes over 8,000 locations.
The company’s claim of being the most sought-after CBD brand will certainly be uncontested from here on out. The Charlotte’s Web trademarked phrase ‘The World’s Most Trusted Hemp Extract™’ just got another strong endorsement.
Shares of CWEB soared over 12% as news of the mega retail deal spread throughout the cannabis investing world. The stock was able to hold onto most of those gains and closed today’s trading session at $21.95, up 10.19% on the day.
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