Martha Stewart teams up with Canadian marijuana grower to develop CBD-based products

Businesswoman Martha Stewart announced on Thursday that she has teamed up with Canopy Growth, a Canadian cannabis company, to develop a line of CBD-based health products for animals and people.

What's the story?

The 77-year-old TV personality is expected to play an advisory role in the development of new products. Sequential Brands Group, a consumer brands company that works with Stewart will also play a role in the partnership, Canopy Growth said in a news release.

"I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living," Stewart said in a statement. "I'm especially looking forward to our first collaboration together, which will offer sensible products for people's beloved pets."

CBD, short for cannabidiol, is a non-psycho-active component derived from marijuana and hemp plants.

Canopy Growth said it has several clinical trials underway and it plans to lean on Stewart's "vast knowledge of consumer products while exploring the effectiveness of CBD and other cannabinoids as they relate to improving the lives of both humans and animals."

"Along with a deep understanding of what consumers in the United States and around the world want, Martha [Stewart] has been one of the most vocal advocates for animals, championing the health and wellness of pets and farm animals alike," Canopy Growth said in the release.

Canopy Growth's Chairman and co-CEO Bruce Linton said he's excited to have Stewart partner with the company.

"Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal."

What else?

In 2016, rapper Snoop Dogg partnered with Tweed, a subsidiary of Canopy Growth, to launch his cannabis product, "Leafs by Snoop."

The musician is also co-host of "Martha & Snoop's Potluck Dinner Party," alongside Stewart.

Canopy Growth, a publicly traded company, is the world's largest cannabis producer. It has future plans to invest up to $150 million in a hemp industrial park in New York.