Charlotte’s Web Acquires Topical Maker Abacus Health Products
Abacus CEO joins Charlotte’s Web as president of topicals.
Charlotte's Web is one of the United States’ largest vertically integrated hemp-derived CBD companies. Combined, Charlotte’s Web and Abacus 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, and 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 direct to consumer ecommerce platform.
"The addition of Abacus Health cements a market leading position in both topical and ingestible products in the CBD category, representing approximately 33 percent market share of the U.S. CBD food/drug/mass retail channel," said Deanie Elsner, chief executive officer 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."
Perry Antelman has been CEO of Abacus since 2016 and will join Charlotte's Web as executive vice president and president of topicals.