CV Sciences, Inc. Announces Expanded Distribution Partnership With The Kroger Co.
PlusCBD™ Oil Topicals Now Available at 1,350 Kroger Stores
SAN DIEGO, July 30, 2019 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (OTCQB: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 The Kroger Co.
CV Sciences’ expansion broadens distribution and availability of the Company’s best-selling PlusCBD™ Oil Original and Extra Strength Balms, and recently launched PlusCBD™ Oil Roll-Ons to more than 400 Kroger stores in five new states, including Georgia, Montana, Texas, Utah and Virginia. This expansion brings CV Sciences’ PlusCBD™ Oil distribution with Kroger to 22 states and 1,350 stores across many of Kroger’s retail banners, including Kroger, Dillons, Fry’s, Fred Meyer, King Sooper, Mariano’s, Pick ‘n Save, QFC and Smiths.
“We are pleased to further grow our distribution with Kroger and increase the availability of PlusCBD™ Oil products to more Kroger shoppers across the U.S.,” said Joseph Dowling, Chief Executive Officer. “We see significant opportunities to further expand our partnership into more Kroger retail outlets with additional product SKUs as demand for high quality, safe and effective hemp CBD products continues to increase with broader market acceptance.”
PlusCBD™ Oil 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 hemp 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. (OTCQB: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, 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
Released July 30, 2019