CV Sciences Inc (OTC: CVSI) announced it has expanded the presence of its CBD oil with Kroger Co. (NYSE: KR). The announcement comes days after Kroger said it will start offering CBD products across U.S. stores.
CV Sciences' expanded retail distribution will cover its PlusCBD Oil Roll-Ons in 945 stores from Kroge's chains, including Kroger, Dillons, Fry's Fred Meyer, King Scooper, Mariano's, Pick 'n Save, QFC and Smith. The distribution will cover 17 states.
PlusCBD Oil Roll-On comes with 200mg or 500mg of CBD extracted from agricultural hemp parts, warming camphor and cooling menthol. In addition, Kroger will offer PlusCBD Oil Extra Strength and Original Balms.
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Why It's Important
For CV Sciences, this represents a major opportunity to distribute its CBD products across 17 states through some of the most popular grocery chains. With Kroger's stores, PlusCBD Oil products are now available in 4,591 stores. It also represents an important milestone for the CBD industry in general.
Lately, a number of large retailers announced plans to offer CBD products to their customers, including Walgreens Boots Alliance Inc (NYSE: WBA), CVS Health Corp (NYSE: CVS), and Designer Brands Inc (NYSE: DBI). Kroger is the first grocery retailer to offer CBD products. Walmart Inc. (NYSE: WMT) and Target Corporation (NYSE: TGT) are reportedly also looking into CBD.
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