LOUISVILLE, Colo., May 1, 2023
/CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc.
("Charlotte's Web" or the "Company"), the market leader in
cannabidiol ("CBD") hemp extract wellness products is pleased to
add Phillips Pet Food & Supplies ("Phillips"), America's
largest distributor in the pet specialty retail channel, covering
more than 6,000 retailers representing more than 14,000 retail
locations.
Phillips boasts a broad
assortment of pet specialty retail, paired with comprehensive
customer touchpoints to drive engagement across its national
footprint from independent boutique pet stores to regional chains
and national chains and mass retailers. Initial orders have been
shipped and Phillips will
distribute the full line of Charlotte's Web pet products, including
topical pet products, and functionally focused CBD dog chews with
synergistic ingredients to support specific health functions;
Calming, Hips & Joints, and Cognition.
The U.S. CBD pet market is estimated to be more than
$400 million in retail sales annually
according to the Brightfield Group (April
2023).
"We are thrilled to have Phillips as our national distribution partner
for pet products. We believe we are just beginning to see where
this segment can go and look forward to growing together as we
further build this channel," Jacques
Tortoroli, Chief Executive Officer of Charlotte's Web said.
"With Phillips we can
substantially increase our distribution reach."
About Phillips Pet Food &
Supplies
Phillips Pet Food & Supplies began as a family owned and
operated business in 1938. Today, there are 11 distribution centers
strategically located across the country. We proudly service Pet
stores, Aquatic stores, Feed & Farm stores, Groomers,
Veterinarians, and Humane Organizations. Our commitment is simple:
To provide our customers with the products and services that will
contribute to the growth and profitability of their business.
About Charlotte's Web Holdings,
Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Denver, is the
market leader in innovative hemp extract wellness products under a
family of brands that includes Charlotte's Web™, CBD Medic™, and
CBD Clinic™. Charlotte's Web whole-plant CBD extracts come in
full-spectrum and broad-spectrum (THC-free) options, including the
world's only broad-spectrum CBD certified NSF for Sport®, which is
the official CBD of Major League Baseball©. Founded by the seven
Stanley Brothers, Charlotte's Web
ignited the CBD industry when the brothers came to global
prominence with the coverage of a young girl's astounding reaction
to their hemp extract. Their advocacy changed laws, public
perception, and research around the vast health potential of
plant-based solutions. The Stanleys built their business with the
mission to bring botanical options to health seekers worldwide.
Charlotte's Web branded premium quality products start with
proprietary hemp genetics that are North American farm-grown using
organic and regenerative cultivation practices. The Company's hemp
extracts have naturally occurring botanical compounds including
cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other
beneficial compounds. The Company's CW Labs R&D division
advances hemp science at a center of excellence in Louisville, Colorado. Charlotte's Web product
categories include CBD oil tinctures (liquid products) CBD gummies
(sleep, stress, exercise recovery), CBD capsules, CBD topical
creams and lotions, as well as CBD pet products for dogs.
Through its substantially vertically integrated business model,
Charlotte's Web maintains stringent control over product quality
and consistency with 20+ product lot testing for quality assurance.
Charlotte's Web products are distributed to retailers and health
care practitioners throughout the U.S.A, and online through the Company's
website at www.charlottesweb.com.
© Major League Baseball
trademarks and copyrights are used with permission of Major League
Baseball. Visit MLB.com.
|
Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information within
the meaning of applicable securities laws (collectively,
"forward-looking information"). In some cases, but not
necessarily in all cases, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information.
Statements containing forward-looking information are not
historical facts, but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such statements containing forward-looking
information. Although these statements containing forward-looking
information are based on assumptions the Company considers to be
reasonable based on the information available on the date such
statements are made, such statements are not guarantees of future
performance and readers are cautioned against placing undue
reliance on forward-looking information.
The material factors and assumptions used to develop the
forward-looking information herein include, but are not limited to,
international and political considerations; regulatory changes;
and the factors discussed throughout the "Risk Factors" section of
the Company's most recently filed annual information form available
on www.SEDAR.com and in the Company's most
recently filed Annual Report on Form 10-K and quarterly report on
Form 10-Q as amended, and other filings with the Securities and
Exchange Commission available on www.SEC.gov. Except
as required by applicable securities laws, the Company undertakes
no obligation to publicly update any forward-looking information,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Charlotte's Web Holdings, Inc.
THE WORLD'S MOST TRUSTED HEMP EXTRACT™
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SOURCE Charlotte's Web Holdings, Inc.