CV Sciences, Inc., a California-based supplier and manufacturer of hemp cannabidiol (CBD) products, announced further expansion of its PlusCBD Oil brand with Harris Teeter (North Carolina).
CV Sciences’ expansion in the food, drug and mass (FDM) retailer channel broadens distribution and availability of the company’s PlusCBD Oil Original and Extra Strength Balms, and PlusCBD Oil Roll-Ons to 150 Harris Teeter locations in North Carolina, South Carolina, Virginia, Florida and Maryland. This expansion brings CV Sciences’ PlusCBD Oil distribution to more than 5,400 retail locations throughout the U.S.
“We are pleased to continue to grow distribution and availability of the PlusCBD Oil brand in the FDM channel through our distribution partnership with Harris Teeter,” said Joseph Dowling, CEO of CV Sciences. “CV Sciences has made significant distribution gains this year, as FDM retailers such as Harris Teeter enter the hemp CBD market with a focus on making high quality, safe and efficacious products available to their shoppers. We see considerable opportunities to expand distribution of PlusCBD Oil as consumers and retailer demand for our products continues to increase.”
PlusCBD Oil has the top-selling CBD supplement in the Total U.S. Natural Channel and its Extra Strength Balm ranks No. 1 in sales in both the Total U.S. Natural Channel and Total U.S. MULO (Multi Outlet) over the last 52 weeks* among CBD products within Topical Analgesics, according to SPINS and IRI data, respectively. Brightfield Group, a predictive analytics and market research firm for the CBD market, expects $1.3 billion in sales of hemp CBD topicals in 2019, with a compound annual growth rate of 169 percent from 2018–2022.
* This news item may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.
