Charlotte's Web signs distribution agreement with Southern Glazer's Wine & Spirits

Charlotte's Web Holdings, Inc., which produces hemp-derived cannabidiol ("CBD") extract wellness products, has signed a multi-year distribution agreement with Southern Glazer's Wine & Spirits, the Denver, Colorado-based CBD manufacturer said Monday.

Charlotte's Web CBD gummies, capsules and oil tinctures will be available through Southern Glazer's retail customer network, the manufacturer said in a statement.

Southern Glazer's operations in 44 U.S. states and the District of Columbia reach consumers at mainstream retail stores licensed to sell alcohol, including grocery and specialty retailers.

"This exciting relationship is another step in delivering on our promise to shift our model to key multi-state distributor relationships in new industry verticals," said Jacques Tortoroli, CEO of Charlotte's Web, in a statement. "Southern Glazer's large-scale distribution within food and beverage, specialty beer, wine and spirits retail, hospitality and big box retail addresses consumer demand for wellness options in this category. I look forward to working closely to grow our respective businesses."

Looking to build this category, Kariff Rhooms, VP of  New Ventures for Southern Glazer's Wine & Spirits, said in a statement that "adding Charlotte's Web enables us to bring an expanded portfolio of innovative products to our retail customers and continue to grow the exciting CBD category."