CV Sciences, Inc. Announces Expanded Distribution Partnership With The Vitamin Shoppe
Partnership Broadens Distribution of PlusCBD™ Oil Products to More Than 500 The Vitamin Shoppe Locations
SAN DIEGO, Oct. 17, 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 to a total of 515 The Vitamin Shoppe locations in 36 U.S. states and Puerto Rico.
CV Sciences’ expansion increases distribution and availability of a broad assortment of the Company’s best-selling PlusCBD™ Oil products. Distribution across The Vitamin Shoppe’s national footprint includes both topical products, such as PlusCBD™ Oil Extra Strength Balm and recently launched PlusCBD™ Oil Roll-On, as well as PlusCBD™ Oil full spectrum hemp extracts including Gold Formula Softgels, Gold Formula Drops, and Total Plant Complex Sprays and Capsules.
The Company’s PlusCBD™ Oil products began selling on September 22, 2019 at 383 The Vitamin Shoppe stores in 30 U.S. states and Puerto Rico. With the addition of 132 The Vitamin Shoppe stores across three states, CV Sciences’ PlusCBD™ Oil products are now available at more than 5,500 retail locations throughout the U.S.
“Following a successful initial rollout to nearly 400 The Vitamin Shoppe locations, we are pleased to further expand our partnership to make PlusCBD™ products available to more customers of The Vitamin Shoppe,” said Joseph Dowling, Chief Executive Officer of CV Sciences. “We look forward to continued expansion with The Vitamin Shoppe as their customers seek high quality, efficacious CBD hemp extract products that promote a healthy lifestyle.”
PlusCBD™ Oil has the top-selling CBD hemp extract supplement in the Total U.S. Natural Channel and its Extra Strength Balm ranks #1 in sales in both the Total U.S. Natural Channel and Total U.S. MULO (Multi Outlet) among CBD hemp extract topicals, according to SPINS and IRI data*, respectively. Brightfield Group, a leading predictive analytics and market research firm for the CBD hemp extract 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’ state-of-the-art facility follows all guidelines for Good Manufacturing Practices (GMP) and the Company’s full spectrum hemp extracts are processed, produced, and tested throughout the manufacturing process to confirm the cannabinoid content meets strict company standards. With a commitment to science, PlusCBD™ Oil’s benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. PlusCBD™ Oil was the first hemp CBD supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. 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.
About the Vitamin Shoppe, Inc. (NYSE: VSI)
The Vitamin Shoppe® is an omni-channel specialty retailer and wellness lifestyle Company with the mission of providing customers with the most trusted products, guidance, and services to help them become their best selves, however they define it. Based in Secaucus, New Jersey, the Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and natural beauty aids. In addition to carrying products from approximately 700 national brands, The Vitamin Shoppe offers products from its proprietary brands within its owned and wholesale channels, including: The Vitamin Shoppe®, BodyTech®, BodyTech Elite®, True Athlete®, plnt® and ProBioCare®. The Company conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements banners, and via its website, www.vitaminshoppe.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 October 17, 2019