(PRESS RELEASE) LOUISVILLE, CO — (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 adds 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 touch points 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.
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