On March 23, 2020, Abacus Health Products and Charlotte’s Web Holdings entered into a definitive arrangement agreement whereby Charlotte’s Web will acquire all issued and outstanding subordinate voting shares of Abacus for a total equity consideration of approximately $99 million. The acquisition will combine the resources of Charlotte’s Web and Abacus to create the world’s largest vertically integrated hemp-derived CBD company. The transaction will provide Abacus with the advantages of joining an established platform and benefit from a low cost vertical supply chain.
Abacus Health Products is specialized in over the counter topical medications combining active pharmaceutical ingredients with hemp extract.
Charlotte’s Web Holdings is focused on producing and distributing innovative hemp-derived CBD wellness products.
Osler, Hoskin & Harcourt LLP advised Abacus with a team consisting of Eric Levy, Bastien Gauthier, Jean-Philippe Bertrand, Erick Lauzière, Jordana Corber-Tovel (Corporate), Jason Comerford (US Corporate), Manon Thivierge (Tax) and Kevin Colan (US Tax).