Charlotte’s Web acquires hemp topical brand Abacus Health

BOULDER — Charlotte’s Web Holdings Inc. (OTC:CWBHF), a local CBD product manufacturer, announced Monday the acquisition of Canadian hemp topicals maker Abacus Health Products Inc (CSE:ABCS).

The total value of the deal is more than $68 million.

“For Charlotte’s Web the combination benefits from the current U.S. regulatory environment which favors topical- CBD products within the food/drug/mass channel,” according to a Charlotte’s Web news release. “For Abacus, the acquisition provides the advantages of joining an established and industry leading platform and benefiting from leading CPG management and brand equity with a low-cost vertical supply chain …”