Business
CBD company Charlotte’s Web signs distribution deal with liquor giant
Hemp-derived CBD product maker Charlotte’s Web Holdings signed a distribution agreement with major liquor distributor Southern Glazer’s Wine & Spirits.
The agreement is described as “multi-year,” although Charlotte’s Web did not disclose the value of the distribution deal or other terms.
“This distribution agreement brings together America’s leading CBD brand with America’s leading wine and spirits beverage distribution company,” Denver-based Charlotte’s Web said in a news release.
Privately held Southern Glazer’s operates in 44 U.S. states and Washington DC as well as in Canada.
“Southern Glazer’s large-scale distribution within food and beverage, specialty beer, wine and spirits retail, hospitality and big box retail addresses consumer demand for wellness options in this category,” Charlotte’s Web CEO Jacques Tortoroli said in a statement.
The deal with Charlotte’s Web is not the first CBD distribution deal for Miami-based Southern Glazer’s:
- Tilray Brands subsidiary Fresh Hemp Foods this summer signed a U.S. distribution agreement with Southern Glazer’s,
- Canopy Growth Corp. signed a U.S. distribution agreement for its CBD drinks with Southern Glazer’s in 2021.
Shares of Charlotte’s Web trade as CWEB on the Toronto Stock Exchange and as CWBHF on the U.S. over-the-counter markets.