Australian hemp producer signs distribution deal with CVS Pharmacy

A subsidiary of Australian hemp product producer Ecofibre has signed a deal to distribute a line of topical products at the U.S. drugstore chain CVS Pharmacy.

EOF Distribution said in a statement last week that it will supply 10 hemp-derived products for exclusive sale at some CVS Pharmacy locations. The Rhode Island-based chain has more than 9,900 retail locations in 49 states; EOF did not say which locations will carry its CBD topicals.

All of the products will be manufactured at Ecofibre’s new U.S. headquarters in Georgetown, Kentucky, and are due to hit shelves in December, the company said.

“We are very pleased to have been selected to supply this brand of products to be offered exclusively at CVS, and are excited at the long-term prospects of providing high-quality hemp-derived products to a broad range of consumers,” EOF Distribution’s David Neu said in the statement.

At the end of April, Ecofibre announced that its Hemp Black fiber business had started distributing facemasks across the United States to address increased demand under the coronavirus pandemic. The masks were not intended for clinical use and were not approved by federal authorities for this purpose, Ecofibre said.

The company said pharmacy sales of its Ananda hemp food products had been negatively affected by COVID-19 retail restricitions, but that the mask sales would compensate for any slowdown in revenue.

Ecofibre trades as EOF on the Australia Stock Exchange.