Turning Point Brands Enters Into Strategic Agreements With Docklight Brands to Support Expansion of Bob Marley Cannabis and CBD Products
LOUISVILLE, Ky.–(BUSINESS WIRE)–Turning Point Brands, Inc. (“TPB” or the “Company”) (NYSE: TPB), a manufacturer, marketer, and distributor of branded consumer merchandise, such as alternative smoking add-ons and consumables with lively elements, announced nowadays a $eight.7 million strategic funding in Docklight Brands, Inc., a pioneering customer products business enterprise with celebrated manufacturers together with Marley Natural® cannabis and Marley™ CBD. Also, TPB has acquired distinctive U.S. Distribution rights for Docklight’s Marley™ CBD topical merchandise. The funding into Docklight Brands’ Series A imparting comes with positive compliance with-on investment rights.
As a result of this transaction, Turning Point Brands now boasts access to 2 of the most iconic names in cannabis: Bob Marley® and Zig-Zag®. The Marley CBD skincare line, which incorporates after-solar, hand cream, lip balm, balm, and roll-on merchandise, combines tropical botanicals with hemp-derived CBD and is currently to be had nationally in over 12,000 shops which include choose 7-Eleven, Circle K, Safeway, and Dollar General places, with extra availability, predicted via TPB’s accomplice network.
The Company’s investment into Docklight can even assist the boom of the wider Marley CBD line, along with Marley Mellow Mood™ teas, Marley health shots, and Marley chocolate squares, in addition to Marley Natural® THC merchandise, that are produced and offered under license agreements in Canada, Jamaica, and choose the U.S. States.
“Our goal is to build an expansive portfolio of the most innovative brands inside the cannabis industry and to distribute these merchandise throughout our widespread companion network,” stated Larry Wexler, CEO, Turning Point Brands. “We attain customers where they’re most secure, promoting products to distributors, selling to shops at once, and interfacing with clients one-on-one through e-commerce. Adding Marley merchandise to our portfolio along with our legacy Zig-Zag logo marks but any other milestone as we keep to leverage our manufacturers and make bigger our distribution infrastructure.”
“Given our shared attention on branded merchandise, we are excited to make bigger the reach of the enduring Bob Marley brand. We have assured our strategic relationship with Turning Point Brands will greatly enhance both the visibility and availability of the Marley products across TPB’s big distribution community,” brought Damian Marano, CEO, Docklight Brands. “We look ahead to running closely with the skilled group at Turning Point Brands to pressure and extend the reach of Marley merchandise throughout North America.”
About Turning Point Brands
Turning Point Brands (NYSE: TPB) is a manufacturer, marketer, and distributor of branded patron merchandise, together with opportunity smoking accessories and consumables with lively substances, thru its iconic middle brands Zig-Zag® and Stoker’s® and its rising brands within the NewGen section. TPB’s merchandise is to be had in more than 210,000 stores in North America, in addition to web sites which include www.Zigzag.Com, www.Nu-x.Com, and www.Solacevapor.Com. For the present-day news and records of approximately TPB and its manufacturers, please go to www.Turningpointbrands.Com.
About Docklight Brands
Docklight Brands is a leading CPG lifestyle agency crafting top-rate products for the evolving patron. We are bringing Bob Marley’s belief in the wonderful capacity of the herb to clients worldwide through Marley Natural® and Marley™ CBD, which provide a huge range of proper products inspired using Bob’s spirit, beliefs, and deep-rooted respect for nature. THC products include flowers, pre-rolls, smoking accessories, and edibles, whilst CBD products span drinks, topicals, and confections—all crafted with a goal and admire. For more facts, please go to enjoymarleycbd.Com, marleynatural.Com, or follow @EnjoyMarleyCBD on Instagram.
This press release incorporates ahead-searching statements in the which means of the federal securities laws. Forward-looking statements may additionally normally be recognized with the aid of the use of words together with “anticipate,” “consider,” “anticipate,” “intend,” “plan,” and “will” or, in every case, their bad, or other variations or comparable terminology. These ahead-searching statements include all topics that are not ancient records. By their nature, ahead-searching statements contain dangers and uncertainties because they relate to activities and depend upon instances that can or won’t occur in the future. As a result, these statements are not ensured of future overall performance, and actual events may fluctuate materially from the ones expressed in or recommended by way of the forward-searching statements. Any forward-looking statement made using TPB in this press launch, its reviews filed with the Securities and Exchange Commission (the “SEC”), and other public statements crafted from time to time talk only as of the date made. New risks and uncertainties arise once in a while, and TPB can’t expect or become aware of all such activities or how they’ll affect them. TPB has no duty and does not intend to replace any forward-searching statements after the date hereof, besides as required by federal securities legal guidelines. However, factors that might reason these variations aren’t restricted to those included in the organization’s Annual reviews on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed using the Company with the SEC. These statements constitute the Company’s cautionary statements below the Private Securities Litigation Reform Act of 1995.