With convenience stores and gas stations increasingly becoming the most visible of U.S. locations for consumers to purchase CBD products, hemp and cannabis companies are seeking to land lucrative distribution deals with chains and independent storefronts.
Capitalizing on the CBD gold rush currently blooming across the country, Harvest Health & Recreation Inc. (CSE: HARV; OTCQX: HRVSF) just signed an agreement to distribute products to thousands of retail sites through the Asian American Trade Associations Council.
Jason Vedadi, Chairman of the Harvest Health Board of Directors, issued this statement about the newly-announced deal:
The agreement sees Harvest providing CBD products under the company’s name, in addition to the CBx Essentials and Colors brands, to storefronts in both large cities and smaller rural areas.
With CBD products enjoying a huge spike in popularity, companies such as Harvest Health are hoping to follow in the footsteps of the energy drink market and use convenience stores as a springboard towards greater visibility.
While signs for CBD capsules, gummies, and even skin care products are appearing at gas stations around the country, other retailers are also noticing the potential for sales and beginning to stock similar products.
Major pharmacy outlets such as Walgreens and rival CVS have started testing the waters by putting beauty and wellness CBD products on the shelves, while edible and liquid forms of CBD are now landing in local independent vape stores.
In addition to hitting the retail distribution chain at convenience stores and pharmacies, some companies in the cannabis industry are busy opening their own branded CBD shops.
U.S.-based company Green Growth Brands Inc. (CSE: GGB; OTCQB: GGBXF) for instance has already opened dozens of shops and set a goal to see 100 total CBD storefronts open by the end of 2019.
In other Harvest Health news, the company just released its Q1 2019 financial reporting, with the highlights available over here.