A $15 million strategic investment in leading global cannabinoid company Dosist was announced today by Turning Point Brands (TPB). The manufacturer, marketer and distributor of branded consumer products said the agreement includes an exclusive co-development and distribution agreement of a new national CBD brand, created in partnership with Dosist’s THC-free business unit.
Additionally, TPB has an option to invest another $15 million at predetermined terms within the next 12 months.
“The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market. With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, Dosist was the clear choice to be our new partner in this critical growth market,” said Larry Wexler, president and CEO of TPB. “We couldn’t be more pleased to enter into this agreement with Dosist, to not only help fuel its exciting new business and co-create a completely new CBD brand for our retail partners, but also to leverage their expertise as a marketing powerhouse to help build the future of both our companies.
Gunner Winston, CEO of Dosist, a pre-eminent and globally recognized cannabis brand, said his team is extremely proud to partner with TPB on its next phase of growth and distribution. “Turning Point’s leadership team has demonstrated remarkable foresight and vision about the future and opportunity for federally legal cannabinoid products,” said Winston. “The synergy between our brands around this scope and mission is incredible and we are excited by what we will achieve together with this partnership.”
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