UK: BAT to invest in Charlotte’s Web

Multinational tobacco manufacturer British American Tobacco (BAT) has announced a c.£48.2 million investment in Charlotte’s Web Holdings, a producer of hemp extract wellness products in the USA.

“Our investment in Charlotte’s Web represents another step for BAT in our exploration beyond tobacco and nicotine, as we continue to build a strong foundation to deliver A Better Tomorrow,” said Kingsley Wheaton, Chief Growth Officer at BAT.

Jacques Tortoroli, CEO of Charlotte’s Web said: “This investment will provide Charlotte’s Web with funding that we anticipate will help unlock deeper and broader research and development that is key to our continued innovation, global footprint, and the advancement of our intellectual property portfolio”.

Charlotte’s Web product formats include tinctures, capsules, chews and topicals under a family of brands that includes Charlotte’s Web, CBD Medic, and CBD Clinic.

Source: BAT