HempFusion (TSX:CBD.U, OTCQX:CBDHF) Wellness Inc told investors it has struck a major distribution agreement with one of the largest retailers in the US.
The health and wellness company said products from its wholly-owned subsidiary, Sagely Enterprises Inc, are expected to be on the shelves at over 3,700 of the retailer's stores by April 2022.
The additional locations will increase its footprint from roughly 18,000 doors to just under 22,000 locations, including nine of the nation's 10 largest Food, Drug and Mass-Merchandise (FDM) retailers. Since launching its new line of non-CBD topical OTC pain relief products, HempFusion said Sagely Naturals has seen strong initial uptake, striking distribution agreements with some of the nation's largest retailers.
READ: HempFusion Wellness says its hemp-derived CBD extract achieves “major regulatory milestone”
"Through this distribution agreement alone, HempFusion will exceed its distribution expansion for all of 2021 as we continue to position the company as a leading health and wellness business in the US," the company’s co-founder and CEO Jason Mitchell said in a statement.
"With an initial launch into 75% of this large US retailer's stores, HempFusion has the opportunity to introduce our premium wellness products to their millions of loyal consumers who consider this retailer synonymous with ‘America,'" he added.
While much of the CBD industry continues to stall, HempFusion said its diversified portfolio of health and wellness brands and products has positioned it for significant growth in 2022 and the years ahead. Big box retail remains a focus for the company, as it provides a significant strategic position in the event of regulatory change, it added.
HempFusion Wellness is a leading health and wellness company whose family of premium consumer brands include HempFusion, Sagely Naturals, Apothecanna, and Probulin Probiotics, one of the fastest-growing probiotics companies in the US, according to SPINs reported data.
Utilizing the power of whole-food hemp nutrition, the HempFusion family of brands’ product portfolio comprises 112 SKUs including USDA Organic Certified Tinctures, proprietary FDA Drug Listed Over-The-Counter (OTC) Topicals, probiotic supplements and skincare products, a Doctor/Practitioner line, a White Label division and more. With a strong focus on research and development, HempFusion Wellness has 43 products under development.
Contact the author at stephen.gunnion@proactiveinvestors.com