Charlotte's Web Acquires Abacus Health Products
Charlotte's Web Holdings, Inc. acquired Abacus Health Products, Inc., a leader in over-the-counter topical products combining active pharmaceutical ingredients with hemp extract.
Combined, the companies distribute to more than 21,000 unique retail locations with limited shelf overlap due to adjacent but complementary positions across the ingestible and topical CBD product categories. Recently, Charlotte's Web added 1,100 new drug stores and more than 700 pet stores, while Abacus added more than 5,000 retail doors with the signing of a new retail partner.
Joining the Charlotte's Web family of brands are Abacus' consumer brands CBD MEDIC and Harmony Hemp, and for professional practitioners, Abacus' CBD CLINIC brand. Substantial product cross selling opportunities are available through each company's respective distribution network. Starting in July, multiple Abacus topical products will be available for purchase through Charlotte's Web's leading Direct to the Consumer e-commerce platform.
Perry Antelman has been the CEO of Abacus since 2016 and will join Charlotte's Web as executive vice president and president of topicals.
"The addition of Abacus Health cements a market leading position in both topical and ingestible products in the CBD category…” said Deanie Eisner, CEO of Charlotte's Web. "We thank the founders and team members of both Charlotte's Web and Abacus for their vision and hard work to build our respective vital brands. We are now one dynamic team and mission-driven company."