Charlotte’s Web to expand CBD pet product distribution in the US
This is what we know about their new partnership with distributor Phillips Pet Food & Supplies.
Hemp health supplements producer Charlotte’s Web has entered a partnership with Phillips Pet Food & Supplies, the largest pet specialty retail distributor in America.
Charlotte’s Web will expand to 6,000 retailers in over 14,000 locations with Phillips. This would include independent boutique pet stores and mass retail chains.
Phillips will distribute the company’s CBD-based pet product portfolio, including dog chews supporting health and wellness functions like calming, cognition, and hips and joints.
“We are thrilled to have Phillips as our national distribution partner for pet products. We believe we are just beginning to see where this segment can go and look forward to growing together as we further build this channel,” said Charlotte’s Web CEO Jacques Tortoroli.
After announcing the partnership, Charlotte’s Web stocks registered a 5.4% increase on 1 May 2023.
US cannabis research firm Brightfield Group concluded that the CBD pet product market generated sales worth $629 million in 2022, nearly 50% more than the previous year.
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