LOUISVILLE, Ky.--(BUSINESS WIRE)--Turning Point Brands, Inc. (“TPB” or the “Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today a $8.7 million strategic investment in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural® cannabis and Marley™ CBD. In addition, TPB has obtained exclusive U.S. distribution rights for Docklight’s Marley™ CBD topical products. The investment into Docklight Brands’ Series A offering comes with certain follow-on investment rights.
As a result of this transaction, Turning Point Brands now boasts access to two of the most iconic names in cannabis: Bob Marley® and Zig-Zag®. The Marley CBD skincare line, which includes after-sun, hand cream, lip balm, balm, and roll-on products, combines tropical botanicals with hemp-derived CBD, and is currently available nationally in over 12,000 stores including select 7-Eleven, Circle K, Safeway and Dollar General locations, with additional availability expected through TPB’s partner network.
The Company’s investment into Docklight will also support the growth of the broader Marley CBD line, including Marley Mellow Mood™ teas, Marley wellness shots, and Marley chocolate squares, as well as Marley Natural® THC products, which are produced and sold under license agreements in Canada, Jamaica, and select U.S. states.
“Our goal is to build an expansive portfolio of the most innovative brands in the cannabis industry and to distribute these products across our vast partner network,” said Larry Wexler, CEO, Turning Point Brands. “We reach consumers where they are most comfortable, selling products to distributors, selling to stores directly and interfacing with consumers one-on-one via e-commerce. Adding Marley products to our portfolio alongside our legacy Zig-Zag brand marks yet another milestone as we continue to leverage our brands and expand our distribution infrastructure.”
“Given our shared focus on branded products we are excited to expand the reach of the iconic Bob Marley brand. We are confident our strategic relationship with Turning Point Brands will greatly enhance both the visibility and availability of the Marley products across TPB’s extensive distribution network,” added Damian Marano, CEO, Docklight Brands. “We look forward to working closely with the experienced team at Turning Point Brands to drive and expand the reach of Marley products across North America.”
About Turning Point Brands
Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, through its iconic core brands Zig-Zag® and Stoker’s® and its emerging brands within the NewGen segment. TPB’s products are available in more than 210,000 retail outlets in North America, in addition to sites such as www.zigzag.com, www.nu-x.com and www.solacevapor.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.
About Docklight Brands
Docklight Brands is a leading CPG lifestyle company crafting premium products for the evolving consumer. We are bringing Bob Marley’s belief in the positive potential of the herb to consumers worldwide through Marley Natural® and Marley™ CBD, which offer a wide range of authentic products inspired by Bob’s spirit, ideals and deep-rooted respect for nature. THC products include flower, pre-rolls, smoking accessories and edibles, while CBD products span beverages, topicals and confections—all crafted with intention and respect. For more information, please visit enjoymarleycbd.com, marleynatural.com, or follow @EnjoyMarleyCBD on Instagram.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by TPB in this press release, its reports filed with the Securities and Exchange Commission (the “SEC”) and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for TPB to predict or identify all such events or how they may affect it. TPB has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include, but are not limited to those included it the company’s Annual reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by the Company with the SEC. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.