DENVER: Charlotte’s Web Holdings, Inc., a market leader in hemp-derived CBD products, has jointly announced with Major League Baseball an exclusive multi-year strategic partnership that opens increased CBD visibility to their professional athletes, millions of fans and communities.
The rigorous approval process that brought the two legacy brands together fills a major gap in the sports channel for an NSF Certified for Sport portfolio of CBD products for players and consumers demanding safe, natural options to support recovery, help keep calm under pressure, and help sleep cycles and focus.
Major League Baseball now becomes the first major professional sports league to form a sponsorship agreement with a CBD company. Charlotte’s Web is now the first “Official CBD of Major League Baseball”. In June, MLB officially opened the CBD category for the league and its clubs allowing sponsorships with CBD companies that are NSF Certified for Sport.
“As a leader in the CBD category, with products that provide health and wellness benefits, Charlotte’s Web is a welcome addition to the MLB family, representing a landmark partnership in baseball and sports,” said Noah Garden, MLB chief revenue officer. “Charlotte’s Web products which receive the NSF Certified for Sport designation have met the highest safety standards and can be promoted across MLB events and media platforms. We are excited about the possibilities this partnership offers as CBD becomes a more widely adopted part of the health and wellness regimen of our players and fans.”
The partnership celebrates the much-anticipated launch of Charlotte’s Web SPORT – Daily Edge, the first broad-spectrum hemp-derived tincture to be Certified for Sport by NSF, the global third-party organization that establishes standards for safety, quality, sustainability, and performance and certifies manufacturers and products against them. Daily Edge, which will feature the MLB silhouetted batter logo on its bottle, is the first product launch from the new Charlotte’s Web SPORT line, which will also include gummies, topicals, and oral sprays.
This historic multi-year agreement is the first league-wide partnership for Charlotte’s Web. The partnership makes MLB a strategic partner in Charlotte’s Web’s NSF-Certified for Sport line and underscores the long-term value opportunity of entering the US CBD market, which topped $4.7 billion in total sales in 2021.
The inaugural Daily Edge tincture launched via Charlotte’s Web’s eCommerce platform on October 12, during the October 2022 Division Series with an exclusive run for the MLB Postseason, and in 2023, the expanded product line will debut in retail sports and health and wellness channels. Through the partnership, Charlotte’s Web will have a premiere brand presence at MLB’s Jewel Events, including All-Star Week, Postseason, and the World Series presented by Capital One through marketing, media, and ballpark activations that connect to the league’s fan base of over 180 million Americans.
“We applaud MLB for being the first-mover in professional sports CBD and are thrilled to welcome their league as a respected strategic partner,” said Jacques Tortoroli, CEO Charlotte’s Web. “Bridging our industry-leading brands with science, innovation, and education, this pioneering partnership validates Charlotte’s Web’s core business principle and founding mission to open access to safe, quality and consistent CBD through our proprietary hemp genetics and industry-forging vision.”
Both organizations share a purpose-focused mission and a passion for supporting their communities. They have committed to serving as Corporate Social Responsibility partners and advancing causes that promote quality of life for athletes and fans.
“Nature is the most intelligent and advanced technology system in our world, and when we work with nature for health and innovate through the lens of community care, we can truly redefine what it means to be well as an athlete. This is game-changing, and I am excited by what we can accomplish with the MLB partnership,” said Jared Stanley, Co-Founder, COO Charlotte’s Web.
In consideration for the exclusive marketing and ancillary rights provided to Charlotte’s Web by MLB, Charlotte’s Web (i) will issue 6,119,121 common shares of the Company to MLB, which represents approximately 4% of the outstanding common shares of the Company, (ii) has agreed to certain revenue sharing rights on MLB/Charlotte’s Web co-branded products, and (iii) agreed to make certain rights fee payments to MLB through December 31, 2025, as summarized in an 8-K filing under the Company’s profile at www.sec.gov and at www.SEDAR.com.
Charlotte’s Web World Series Sweepstakes
In celebration of MLB’s exciting season and their loyal fans, Charlotte’s Web is awarding one (1) 2022 World Series experience for a Grand Prize winner and guest including game tickets for two (2), airfare, and hotel. No purchase necessary to win. Sweepstakes entry period starts 6:00am MST on 10/12/22 and ends 11:00pm MST on 10/18/2022. Open to legal residents of U.S., 18 +. One (1) prize to be awarded. Odds of winning depend on number of entries received. Enter online or by mail. Limit one (1) entry per person/email address, regardless of method of entry. Void where prohibited. Restrictions apply; see Official Rules at www.charlottesweb.com/MLB. Sponsor: Charlotte’s Web, Inc.
