Entoura said it plans to use Atalo’s existing brands and product to grow its product offerings and offer private label services, including industrial hemp genetics, flower and hemp oil extraction.
The Portland, Ore.-based company is reducing the prices of its products by 20%-40% while increasing the potency of some of its standard potency full-spectrum CBD tinctures.
Perrigo and Kazmira's partnership includes an investment in Kazmira's manufacturing capabilities and a supply agreement that ultimately will bring store-brand CBD products to U.S. retailers.
The offerings are designed to target such issues as pain, acne and eczema with CBD being used alongside such active ingredients as salicylic acid, colloidal oatmeal and menthol.
With the approval, the companies expect the deal — for which Charlotte’s Web is paying a total equity consideration of $99 million in stock to Abacus shareholders — to close on or about June 11.
