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Abacus Health Products, CBDmedic to Be Acquired by Charlotte’s Web

Alex Ramsteen



Abacus Health Products, CBDmedic to Be Acquired by Charlotte’s Web
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Abacus Health Products and Charlotte’s Web have agreed for the first to be acquired by the latter with all its outstanding subordinate and issued voting shares. This means Charlotte’s Web, which is a leader on the market of hemp-derived CBD products, is going to combine forces with Abacus, one of the biggest hemp extract OTC topical products’ producers. Here’s What Charlotte’s Web’s chief executive officer, Deanie Elsner had to say about the partnership:

“The complementary strengths of our relative market positions made this merger a logical strategic move. With this acquisition, we strengthen the business to reflect the evolution of the category. Because most of Abacus’s products are positioned in adjacent categories, our combined distribution reach has limited shelf overlap. Together we are the most developed CBD company across every channel and segment and positioned to accelerate our growth and extend our market share. Furthermore, it enables us to drive more scale production through our vertically integrated infrastructure.”

The Aim Is to Create the Largest CBD Company

As partners, Charlotte’s Web and Abacus aim to become the biggest hemp-derived CBD company that’s vertically integrated, and not only in the US but also in the entire world. Both entities that will form this company are already offering products approved by the US environmental regulator, which in fact favors topical CBD products more than the food, drugs or and mass (F/ D/ M) ones.

What Does This Mean for Abacus?

By being acquired by Charlotte’s Web, Abacus gets to establish a leadership position in the CBD market, to benefit from the best CPG management and low-cost supply chain production of the nest hemp extract in the world, and all while also taking advantage of brand equity. The company’s chief executive officer, Perry Antelman said this about what’s happening at the moment with the new Charlotte’s Web’s acquirement:

“This transaction provides a unique opportunity to our shareholders and employees to participate in the compelling potential of the combined businesses. Abacus is one of the largest suppliers and distributors in the United States of topical products infused with hemp extract to the F/D/M and healthcare practitioner markets. By joining with Charlotte’s Web, we have the opportunity to maximize our growth by leveraging the Company’s leading brand, vertical integration, infrastructure, expertise, financial position and capital markets presence, and position the combined Company to deliver benefits for our stakeholders over the long-term.”

The new entity made up by Charlotte’s Web and Abacus is expected to grab about 34.7% of the F/ D/ M CBD market, seeing the 2 companies’ sales combined were $29.1 million in 2019.

Alex Ramsteen plugs his content writing microphone in all the way from Kenya and has been a professional writer for over a handful of year nearing a decade soon. While the skill of writing is apparent naturally, TOC is delighted to leverage Alex’s strengths into an array of interests including technology, science, fitness, yoga, meditation, traveling, electronics, reading and more.

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