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Charlotte’s Web CBD acquires Rob Gronkowski’s choice brand


A company that grew famous with the endorsement and promotion of former Patriots tight end Rob Gronkowski is being purchased by a giant in the CBD industry.


Charlotte’s Web CBD recently announced it was purchasing Abacus Health Products, which manufactures the CBDMEDIC products Gronkowski made waves in 2019 by endorsing.


According to Observer, the buyout was valued at $69 million dollars and the stock prices of both parties leapt after the Monday announcement. [1]


The joint company after the merger will be the largest purveyor of hemp and CBD products in the entire industry, which only recently began to bloom again after decades of federal prohibition on the industrial hemp crops that make CBD possible.


“During my career, I pushed myself while recovering from nine surgeries and countless injuries,” Gronkowski told Fox Business last year. [3]


Gronkowski was amazed at the pain relief he found in CBD, and in many ways he kicked off a nationwide trend of athletes turning to the powers of natural hemp products. Now, multiple athletes in major sports leagues like the NFL, MLB, PGA Tour and elsewhere swear by CBD.


“Once I retired, I looked for better and more natural ways to recover and discovered CBDMEDIC. These products have helped me safely manage pain better than anything else I’ve tried. Building on my own experience with CBDMEDIC for pain, I’m inspired to work with the company to introduce new CBD products to the market.” [3]


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Sources

[1] https://observer.com/2020/03/abacus-cbdmedic-maker-to-be-acquired-by-charlottes-web-stock/

[2] https://www.prnewswire.com/news-releases/charlottes-web-to-acquire-abacus-health-products-for-combined-35-marketshare-of-cbd-in-fooddrugmass-retail-channel-301028144.html

[3] https://www.nothingbuthemp.net/post/former-patriots-star-rob-gronkowski-turns-to-cbd

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