Cookies Announces Intent to Acquire Cookies-Related Florida Licensed Cannabis Assets
May 01 2024 - 8:03AM
Business Wire
Strategic Move Represents an Important Step
in Executing Corporate Strategy Through Centralized Command and
Control of Cookies Supply Chain
Cookies, the most globally recognized cannabis company, today
announced its intention to acquire all operational cannabis assets
related to the production and sale of Cookies-branded cannabis
products in the Sunshine State from TRP Co. and its affiliates in
Florida. The announcement follows a recent Florida Supreme Court
ruling to allow an adult-use marijuana legalization measure on the
November ballot, as well as the recent announcement that the U.S.
Drug Enforcement Administration will move to reclassify marijuana
as a Schedule III drug.
“Acquiring direct ownership of all of these Florida assets by
exercising our contractual option to do so enables us to deliver on
our original corporate strategy, gives us full control over our
supply chain, and empowers us to provide the best customer
experience with our stores and products in Florida,” said Parker
Berling, Cookies’ President.
“We’re grateful to the Florida Supreme Court for its decision to
put adult-use legalization on the ballot, honoring the democratic
process and safeguarding the rights of Floridians to decide on such
critical matters,” said Gilbert A. Milam, Jr., Cookies’ Chief
Executive Officer. “With adult use on the horizon, we see a lot of
potential for the Florida market.”
The consummation of the roll-up transactions in the State of
Florida is subject to a standard diligence process, execution of
definitive documents and regulatory approval, including approval by
the Florida Department of Health, Office of Medical Marijuana Use
(OMMU) of the transfer of the license related to the assets.
About Cookies
Cookies is the most globally recognized cannabis company;
founded in 2010 by Billboard-charting rapper and entrepreneur
Berner and Bay Area breeder and cultivator Jai. The company creates
game-changing genetics and offers a collection of over 70
proprietary cannabis cultivars and more than 2,000 products.
Headquartered in San Francisco, the company is actively involved in
advocacy and social impact initiatives to enrich communities
disproportionately impacted by the War on Drugs. Cookies opened its
first retail store in 2018 in Los Angeles, has since expanded to
over 70 retail locations in over 20 markets across 6 countries, and
was recently named one of America's Hottest Brands of 2021 by Ad
Age; the first cannabis brand to ever receive this accolade. To
learn more about Cookies, visit cookies.co, and to learn more about
Cookies CBD, visit shop.cookies.co.
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