Partnership Broadens Distribution of PlusCBD™ Oil Products to 150 Harris Teeter Locations
SAN DIEGO, Oct. 01, 2019 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, is pleased to announce further expansion of its industry-dominating PlusCBD™ Oil brand with Harris Teeter.
CV Sciences’ expansion in the Food, Drug and Mass (FDM) retailer channel broadens distribution and availability of the Company’s best-selling 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, Chief Executive Officer 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 #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 leading 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% from 2018 – 2022.
About CV Sciences, Inc.
CV Sciences, Inc. (CVSI) operates two distinct business segments: a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors; and a drug development division focused on developing and commercializing CBD-based novel therapeutics utilizing CBD. The Company’s PlusCBD™ Oil is the top-selling brand of hemp-derived CBD on the market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. CV Sciences’ state-of-the-art facility follows all guidelines for Good Manufacturing Practices (GMP) and the Company’s full spectrum hemp extracts are processed, produced, and tested throughout the manufacturing process to confirm the cannabinoid content meets strict company standards. With a commitment to science, PlusCBD™ Oil’s benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. PlusCBD™ Oil was the first hemp CBD supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. CV Sciences, Inc. has primary offices and facilities in San Diego, California. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.
This press release 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.
Scott Van Winkle
*SPINS and IRI MULO scan data, 13 quad weeks ending April 21, 2019