BOULDER, Colo. — Charlotte‘s Web has entered into an Option Purchase Agreement with Stanley Brothers USA and the shareholders of Stanley Brothers USA. Stanley Brothers USA is a cannabis wellness incubator currently operating in three states (Colorado, California, Florida) with expansion plans underway in eight additional states.
“Consumer attitudes, market trends, and laws surrounding cannabis and its role within the wellness category continue to trend positively. This strategic Option provides Charlotte’s Web optionality to enter the U.S. cannabis wellness market in partnership with an experienced and trusted team and brand, positioning our business for potential new growth opportunities and shareholder value creation,” explained Deanie Elsner, CEO of Charlotte’s Web. “The Stanley Brothers are innovating cannabis wellness with the same philosophy and vision that drove their success as founders of the Charlotte’s Web brand. With this shared heritage, we could not be more aligned.”
Stanley Brothers USA is evolving botanical formulations for the Cannabis 2.0 wellness-focused consumer, combining full-spectrum cannabis extracts with functional botanical ingredients. Marketed under the “ReCreate” brand, the wellness formulations are lower in tetrahydrocannabinol (THC) for more precisely controllable benefits. Products include functional chocolates, gummies and oil tinctures, formulated with the wellness benefits of the entire cannabis plant including CBD and THC to help achieve a desired state of wellbeing.
Charlotte’s Web is the global leader in the cultivation, production and distribution of hemp-derived CBD wellness products. Until the Option is exercised, both Charlotte’s Web and Stanley Brothers USA will continue to operate as standalone entities in the US. Internationally the companies are able to explore opportunities where cannabis is federally permissible.
Two founders of Stanley Brothers USA are members of the Charlotte’s Web board of directors. To further support the strategic Option, Charlotte’s Web co-founders Joel Stanley and Jared Stanley resigned as members of the Charlotte’s Web board of directors in order to transition to board positions with Stanley Brothers USA and oversee execution of that business with aligned values, business practices, and vision.
- Joel Stanley, a Charlotte’s Web co-founder and Board Member, is a Stanley Brothers USA co-founder and will assume a seat on the Board of Directors at Stanley Brothers USA.
- Jared Stanley, a Charlotte’s Web co-founder, Board Member, and its Chief Cultivation Officer, is a Stanley Brothers USA co-founder and will assume a seat on the Board of Directors at Stanley Brothers USA.