Marijuana brand Cookies plans to acquire “all operational cannabis assets related to the production and sale of Cookies-branded cannabis products” in Florida from TRP Co. and affiliated companies.
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The high-profile marijuana brand did not provide a value for the transactions in a Wednesday news release.
TRP Co.’s website lists seven Cookies-brand retail locations in Florida plus three stores “coming soon” and a delivery service.
Cookies is currently involved in a legal dispute in California with independently owned retailer Cookies Retail, whose principal is Brandon Johnson.
Johnson is also CEO of TRP Co.
Cookies said its acquisition “announcement follows a recent Florida Supreme Court ruling to allow an adult-use marijuana legalization measure on the November ballot” as well as Tuesday’s report that the U.S. Drug Enforcement Administration is approving federal marijuana rescheduling.
“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,” Cookies President Parker Berling said in a statement.
Cookies said the Florida deals are still subject to due diligence and approvals
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