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Thursday, May 19, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Charlotte’s Web signs new UK distribution deal to expand retail reach

Most of sales to date have been online

Charlotte's Web signs new UK distribution deal to expand retail reach
Photo via Charlotte's Web

Leading American CBD maker Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) has signed an exclusive distribution deal to put its products in more physical stores in the United Kingdom.

On Monday, the company revealed the deal with Savage Cabbage Ltd., one of the oldest CBD firms in the U.K.

Under the agreement, Savage Cabbage will continue to sell a large portfolio of Charlotte’s Web products with CBD and other compounds found in hemp. As the Novel Foods regulatory framework comes online, which vastly expands access to over-the-counter CBD sales in the country, Savage Cabbage will use its network to expand the presence of its partner’s products.

The expansion will move beyond ecommerce, to high street stores and bricks-and-mortar retailers.

Savage Cabbage founder and CEO Jade Proudman credits Charlotte’s Web CBD oil with helping her to move off a host of opioid medications that were severely impacting her quality of life.

“We have shared a vision — providing high quality CBD products to consumers in the UK and helping people to live better, naturally,” she said in a statement. “Many consumers are of the belief that all CBD products are equal. Since 2016, we have seen firsthand the benefits of full-spectrum hemp extract products like Charlotte’s Web within our community.”

Charlotte’s Web CEO Jacques Tortoroli notes the U.K. is one of the most exciting international markets.

“As the demand for CBD products continues to rise around the globe, it is critical that consumers continue to better understand how CBD products work and the benefits of hemp botanical wellness through nature.”

Savage Cabbage is a member of the European Industrial Hemp Association, and has been the official U.K. distributor of Charlotte’s Web CBD since 2016.

In January, Charlotte’s Web launched a line of health-focused gummies at GNC stores across 24 U.S. states.

Read more: Charlotte’s Web CBD gummies to launch at GNC stores in 24 US states

 

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