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Charlotte’s Web’s ReCreate Gummies Named Official CBD of Premier Lacrosse League

Jul 20, 2023


Boulder, CO--As part of its ongoing expansion efforts, Charlotte's Web Holdings, Inc. has released its latest product under the ReCreate brand. 

After forming successful partnerships with Major League Baseball and the Angel City Football Club, ReCreate has now become the Official CBD brand of the Premier Lacrosse League (PLL).

Premier Lacrosse League's CEO and co-founder, Mike Rabil, expressed excitement about the collaboration. 

"As we continue to trailblaze the future of professional sports, staying at the forefront of player well-being and recovery is core to our mission," Rabil said in the news release. "Charlotte's Web and their focus on performance with their ReCreate products make for an ideal, player-forward partnership for our league. We're thrilled to name ReCreate the official CBD of the PLL."

A Blend of Organic CBD and Functional Botanicals

ReCreate gummies merge organic broad-spectrum CBD and functional botanicals, targeting specific wellness objectives. The product range of the ReCreate gummy line includes the following:

  • Endurance: These gummies blend organic broad-spectrum CBD and beetroot to make day-to-day life easier.
  • Muscle Recovery: Organic broad-spectrum CBD and tart cherry are mixed in these gummies to aid muscle recovery.
  • Brain Support: Formulated with organic broad-spectrum CBD and organic Lion's Mane, these gummies are intended to support cognitive function.
  • Rest: These gummies combine organic broad-spectrum CBD and Passionflower to promote relaxation.

Who said what?

TJ McGovern, the VP of sports and entertainment, expressed in the news release that the expansion of ReCreate was impeccably timed, coinciding with a dynamic period of transformation in the sports and wellness sector. 

The VP further commented on how incorporating CBD as a natural preference by players, trainers, staff, and fans has triggered a substantial metamorphosis. He voiced ReCreate's exhilaration at being a part of this revolutionary change, fueled by their pioneering sports alliances and commitment to offering innovative CBD formulations and methods for people to incorporate into their wellness practices.

Financial Performance

Despite a decrease of 12.1% YoY in net revenue, Charlotte's Web demonstrated prudence by reducing operating expenses by 14% YoY. The company's CFO, Jessica Saxton, emphasized that Charlotte's Web maintains robust gross profit margins and improved operating margins. With a net cash balance of $61 million at the end of the first quarter, Charlotte's Web possesses the necessary capital to support expansion.

A Partnership in Canada

Last year, Charlotte's Web announced in a news release that it had forged a strategic alliance with Tilray Brands, a Canadian cannabis consumer packaged goods company. The collaborative pact includes licensing, manufacturing, quality control, marketing, and the nationwide distribution of Charlotte's Web's CBD hemp extract products in Canada.

By leveraging an established infrastructure, co-production, and distribution capabilities of Tilray, Charlotte's Web said that the move was aimed to take a decisive step into international markets — something that seems to have come to fruit several months later. 

While Canadians previously could only procure Charlotte's Web's hemp extract through specific medical exemptions via Health Canada, the partnership lets them enjoy nationwide access through Tilray's extensive distribution network. 

This move introduced Charlotte's Web's popular full-spectrum CBD products to the Canadian market while also preparing the groundwork for potential sales through traditional pharmacies, pending the introduction of new natural health product regulations.

The partnership aimed to replicate the U.S. success of Charlotte's Web's product line, including naturally flavored oil tinctures, topical creams, and functional gummies.