LOUISVILLE, Ky. — Turning Point Brands Inc., a manufacturer, marketer and distributor of branded consumer products, increased its equity stake in Canadian distribution company ReCreation Marketing.
The Louisville, Ky.-based company upped its stake from 50% to 65%. As part of the transaction, which was completed on July 30, ReCreation will change its company name to Turning Point Brands Canada Corp. within the next 90 days.
ReCreation Marketing is a specialty marketing and distribution firm focused on building brands in the Canadian smoking accessories, vaping and alternative products categories. It has significantly expanded the reach of Zig-Zag papers. With the expanded partnership, Turning Point Brands expects to continue to grow its presence in Canada.
“Increasing our stake in ReCreation Marketing was a logical move as Turning Point Brands continues to invest in the cannabis and tobacco-related sectors,” said Larry Wexler, CEO of Turning Point Brands. “Our partners at ReCreation Marketing are significantly expanding the distribution of our brands while also gaining market share in Canada, most notably capitalizing on Zig-Zag’s strong market position in the country. The increased stake and renaming into Turning Point Brands Canada signify the commitment to our strategy in Canada.”
Chris Riddoch, president of ReCreation marketing, said the move will provide both companies the opportunity to penetrate the market and to increase visibility and accessibility to Canadian retailers and consumers.
“Turning Point Brands’ robust portfolio of leading brands, coupled with ReCreation Marketing’s proven ability to support distribution in traditional and alternative channels, is a natural expansion of our work together,” Riddoch said.
ReCreation Marketing, Laval, Quebec, serves up to 30,000 traditional retail outlets and newly-established cannabis dispensaries across Canada.
Turning Point Brands products include alternative smoking accessories and consumables with active ingredients. Its products are available in more than 210,000 retail outlets in North America.
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