Charlotte's Web completed the acquisition of Abacus Health Products for $69m.

Charlotte's Web, a provider of hemp-based, cannabinoid wellness products, completed the acquisition of Abacus Health Products, which produces pain relief pharmaceutical products, for $69m. "The complementary strengths of our relative market positions made this merger a logical strategic move. With this acquisition we strengthen the business to reflect the evolution of the category. Because most of Abacus's products are positioned in adjacent categories, our combined distribution reach has limited shelf overlap. Together we are the most developed CBD company across every channel and segment and positioned to accelerate our growth and extend our market share. Furthermore, it enables us to drive more scale production through our vertically integrated infrastructure," Deanie Elsner, Charlotte's Web CEO.