CBD Retail Boom Expands With The Kroger Co.
Financialnewsmedia.com News Commentary
25 Jun, 2019, 08:45 ET
PALM BEACH, Florida, June 25, 2019 /PRNewswire/ -- CBD just got another major shot in the arm. Just days ago, Kroger announced it would sell CBD products in nearly 1,000 stores. While it won't sell CBD-infused groceries yet, it will carry CBD topical products, including creams, balms and oils in 945 stores across 17 states. The company joins a growing list of other retailers that are just now jumping on the bandwagon. Simon Property Group partnered with Green Growth Brands. CVS will now carry CBD products across the U.S. The Vitamin Shoppe announced it will sell CBD products. Abercrombie & Fitch just partnered with Green Growth Brands to sell CBD body care products. In addition, analysts at Jefferies estimate the CBD beauty market will reach $25 billion over the next 10 years. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), CV Sciences Inc. (OTCQB:CVSI), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), CannTrust Holdings Inc. (NYSE:CTST)(TSX:TRST), and Canopy Rivers Inc. (TSX-V:RIV)(OTCPK:CNPOF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced the following products containing hemp and other botanicals have completed stability and preservative challenge tests at a laboratory in British Columbia: eye cream, deodorant, Micellar Water Facial Cleanser in a bottle, Micellar Water Facial Cleanser in a jar with cotton pads, Roll on Facial Oil for All Skin Types, Roll on Facial Oil for Oily Skin, Face Mask for All Skin Types, Face Mask for Oily Skin, and Face Mask for Dry Skin. Yield Growth is currently in the market with hemp-based skin care products through Urban Juve and has plans to launch several CBD brands in California within the next 4 months. Additional tests will be completed on products with CBD in California. The company also has THC topical products approved for sale on Oregon.
"I am pleased with the accomplishments of our talented product development team that will enable us to launch full lines of CBD products in the US for first mover advantage," says Penny Green, Yield Growth CEO. "Our catalogue of high quality, unique formulas for CBD infusion supports our launch of new products for our CBD brands and also allows us to build additional revenues and assets through our licensing strategy. As this industry grows to $25 billion, we intend to be a dominant player." For more information on BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
CV Sciences Inc. (OTCQB:CVSI) just announced further expansion of its industry-dominating Plus CBD Oil brand with The Kroger Co. The Company's expanded retail distribution includes the launch of CV Sciences' new PlusCBD OilRoll-Ons in 945 Kroger stores across many of its retail banners, including Kroger, Dillons, Fry's, Fred Meyer, King Sooper, Mariano's, Pick 'n Save, QFC and Smiths locations in 17 U.S. states. As discussed on the Company's first quarter 2019 earnings call on May 8, 2019, CV Sciences' recent distribution gains include availability of PlusCBD Oil Extra Strength Balm in an initial launch at CVS Pharmacy stores. With the addition of 945 Kroger locations and new distribution into other leading Food, Drug and Mass (FDM) retailers, as of June 12, 2019, PlusCBD Oil branded products are available in 4,591 retail stores, up from 3,308 retail stores as of March 31, 2019, an increase of 38.7% over the prior two months.
"We are delighted to partner with Kroger and launch our new Roll-On topical as we continue our rapid expansion into the FDM channel," said Joseph Dowling, CEO. "Kroger, CVS Pharmacy, and other leading national retailers are keenly aware of the increased consumer demand for hemp-based CBD products and they are partnering with CV Sciences because of our unwavering commitment to safety and quality. We are at the beginning of what we believe will be broad acceptance of CBD products across national FDM accounts and we look forward to our continued growth as we expand store count and SKUs with our retail partners."
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) announced its plans for the highly-anticipated expansion of the consumer cannabis market into vapes, concentrates, and edibles. The Company is also preparing to launch a national public awareness campaign this fall, educating consumers, provinces and retailers about the safe usage and consumption of these new derivative products. Through a combination of new and enhanced facilities, Aurora intends to produce new, high-quality products across the country in a variety of product categories. Aurora recently entered into a supply agreement with PAX Labs Inc., a leading consumer technology brand in cannabis. With the PAX partnership, the Company will have the market leading PAX Era device to compete in the Closed Loop category and will also launch a new range of vape products, at various price points, targeted to all major consumer markets through both 510 thread cartridges and disposable single-use units.
"Aurora is the world's leading producer of high-quality cannabis and we're ready to introduce high-value product additions to this improved, federally legal market," said the Company's CEO Terry Booth. "From the beginning, we've invested in industry-leading production and distribution technology, and in consumer research to drive products to market that consumers will desire. These things, together with the dynamic partnerships we've entered into on the accessory and technology fronts, position us well for this new market launch in December as per Health Canada's recent regulatory amendments."
CannTrust Holdings Inc. (NYSE:CTST)(TSX:TRST) announced that it is establishing operations in the United States starting in the State of California. CannTrust has signed a non-binding letter of intent that will provide access to over 3,000 acres of farmland for hemp production with Elk Grove Farming Company, LLC, a diversified farming company with operations in the State of California, to secure low-cost hemp with high cannabidiol content. CannTrust and Elk Grove will each have 50% ownership of a new entity. The opportunity in the U.S. for CannTrust is to become a trusted supplier of consistent, standardized and high-quality hemp-derived CBD formulations at scale. The Company believes there will be increasing demand for hemp-derived CBD formulations from international retailers and product manufacturers, and those organizations require expertise in genetics and value-add processing to ensure products are desirable and meet the highest safety standards.
Canopy Rivers Inc. (TSX-V:RIV)(OTCPK:CNPOF) just announced an investment and strategic collaboration between Canopy Rivers and ZeaKal, a California-based plant science innovator with proprietary technologies that sustainably increase photosynthesis, improve plant yield and enhance nutritional profiles for a variety of agricultural crops. The investment from Canopy Rivers marks another significant corporate milestone this calendar year for ZeaKal, following the February announcement of its R&D collaboration with Corteva Agriscience (NYSE: CTVA), the recently spun-out and NYSE-listed agricultural science division of DowDuPont. ZeaKal's proprietary technology, PhotoSeed, increases a plant's intrinsic photosynthetic capacity, meaning that PhotoSeed™ plants can convert more sunlight and carbon dioxide into energy for growth. This results in substantial improvement in seed and grain yield, as well as improved macronutrient profiles that drive an increase in both oil and protein content. For farmers, this means better productivity and profit margins; for consumers, this means higher nutritional profiles and an environmentally friendly way to meet growing global demand. With multi-year field trials across diverse plant species in the United States, Canada and New Zealand, the initial commercial focus has been on major row crops. Following Canopy Rivers' investment, ZeaKal intends to expand its program to include cannabis and hemp.
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