Charlotte’s Web to acquire Abacus Health Products for $68M

CW are quietly getting on with it. They just launched a new R&D Division and now this. We’re betting on these guys coming out the otherside and with a brand that reminds us of a company like Body Shop or Lush.

Hemp Industry Daily reports

A major Colorado CBD maker will purchase a Rhode Island company that makes CBD topical products, the two companies announced Monday.

Charlotte’s Web, a producer of hemp-derived CBD wellness products based in Boulder, Colorado, will acquire Abacus Health Products of Woonsocket, Rhode Island. for implied total equity consideration of approximately CA$99 million ($68.2 million).Under terms of the deal, Abacus shareholders will receive 0.85 of a common share of Charlotte’s Web for each Abacus share held, according to a joint statement.

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Charlotte’s Web to acquire Abacus Health Products for $68M

 

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