Charlotte's Web Signs Deal To Enter Pot Biz Upon Legalization

By Diana Novak Jones (March 3, 2021, 5:13 PM EST) -- One of the biggest names in hemp, Charlotte's Web, is positioning itself to enter the marijuana market through an agreement to acquire a pot products company started by its founders, the company said Wednesday.

In a deal steered by DLA Piper and Akabas & Sproule, Charlotte's Web paid $8 million to secure an option to acquire Stanley Brothers USA Holdings Inc., which sells marijuana wellness products under the brand ReCreate, it said in a release. But the acquisition is contingent on dramatic changes to regulations or U.S. laws involving marijuana, and gives the companies up to five years — extendable to...

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