Cannabis Briefs for February 12, 2019February 12, 2019
•Canada-based cannabis group TerrAscend Corp. has announced a deal to acquire California and Nevada retailer The Apothecarium for $118 million. The Apothecarium has four retail dispensaries in California and Nevada and had total 2018 revenues of approximately $45 million. The purchase, which is still subject to local and state regulatory approvals, also includes a vertically integrated operation in Nevada with cultivation, edible manufacturing, and an Apothecarium retail location, as well as Valhalla Confections, a producer of premium edible products. TerrAscend counts Canopy Growth among its shareholders.
•Cannabis retailer Green Growth Brands has expanded its partnership with Authentic Brands Group (ABG) to produce a line of CBD personal care products for Greg Norman CBD, an arm of the former PGA player’s brand. The line will include CBD muscle balm, lotion, and sunscreen. Green Growth, which is a subsidiary of DSW, Inc. has inked a deal to sell its brands in ABG’s retail outlets like Aéropostale and Juicy Couture in addition to DSW shoe stores. Canadian cannabis producer Tilray will act as the preferred supplier for Green Growth in these partnerships. Greg Norman is also active in the drinks world with the Greg Norman Estates wine brand.
•Cannabis ingestibles company Cannabiniers will expand distribution of its Two Roots Brewing Co. non-alcoholic, cannabinoid-infused beers to California. First launched in Nevada, Two Roots offers several varieties—Enough Said Lager, RCG Stout, Road Scholar New West IPA, Sonder Blonde Ale, and Tropical Infamy Wheat Ale—that come in both THC and CBD varieties for around $8 a 12-ounce can. Plans also call for an upcoming offering called “Tribute,” a beer said to taste just like cannabis. Cannabiniers also produces Brewbudz and Just Society infused coffees and tea, Bask CBD creams, and Basis, a line of vaporizers. William Grant and Pernod Ricard veteran Victor Jerez was recently named COO of Cannabiniers.
•Barneys New York has announced that it will open a new Beverly Hills-based “cannabis lifestyle and wellness concept shop” in March. Called “The High End,” the shop will be located in Barneys New York’s Beverly Hills flagship and sell rolling papers from Devambez, horn lighters from Lorenzi Milano, leather ashtrays and lighters from Giobagnara, custom-made blown glass pipes from Caleb Siemmon, and vaporizer pens from Beboe, among other items.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.