Green Growth Brands, American Eagle Agree On CBD Product Distribution Deal
Green Growth Brands Inc (OTC: GGBXF) and American Eagle Outfitters (NYSE: AEO) have entered into a deal to distribute CBD-infused personal care products. American Eagle Outfitters will sell the CBD products in almost 500 of its stores, as well as online.
The purchase order from American Eagle Outfitters marks Green Growth Brands' third major wholesale agreement since the passage of the 2018 Farm Bill that legalized hemp-derived CBD on a federal level.
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Green Growth Brands has developed a range of products exclusively for American Eagle, which includes lotions, muscle balms and aromatherapy.
"We are very pleased to be partnering with American Eagle," said Green Growth Brands CEO Peter Horvath. "GGB provided the expertise necessary to develop the product formulations and packaging to create a really special line of products."
The company has struck partnerships with shoe retailer DSW and apparel retailer Abercrombie & Fitch Co. (NYSE: ANF). It has also signed deals with Simon Property Group Inc (NYSE: SPG) and Brookfield Properties to sell Seventh Sense Botanical Therapy CBD products in malls across the U.S.
Sales of CBD products in American Eagle stores are expected to start in October.
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