Failed to build 2.0.0

[walkerrandolphsmith]

ERROR in ./node_modules/flexbox-react/dist/Flexbox.js
Module not found: Error: Can't resolve 'react' in '/Users/walkersmith/Repositories/workspace/node_modules/flexbox-react/dist'
 @ ./node_modules/flexbox-react/dist/Flexbox.js 13:13-29
 @ ./node_modules/flexbox-react/dist/index.js
 @ ./component-library/src/index.js

ERROR in ./node_modules/styled-components/dist/styled-components.es.js
Module not found: Error: Can't resolve 'react' in '/Users/walkersmith/Repositories/workspace/node_modules/styled-components/dist'
 @ ./node_modules/styled-components/dist/styled-components.es.js 3:0-56
 @ ./node_modules/flexbox-react/dist/Flexbox.js
 @ ./node_modules/flexbox-react/dist/index.js
 @ ./component-library/src/index.js

I get the following error when building with webpack. My webpack config contains

...
 loaders: [
            {
                test: /\.jsx?/,
                loader: 'babel-loader',
                exclude: /node_modules/,
                query: {
                    presets: ['es2015', 'react']
                }
            },
...

I have react in my package.json under dependencies and see it in my node_modules directory.
Any ideas of what to look out for?