TORONTO, Jan. 04, 2023 (GLOBE NEWSWIRE) -- OEG Retail Cannabis (OEGRC) has completed its acquisition of 23 Tweed and Tokyo Smoke stores from Canopy Growth Corporation (CGC) in Manitoba, Saskatchewan, and Newfoundland and Labrador. In addition to the retail locations, OEGRC has also acquired the Tokyo Smoke brand from Canopy Growth. OEGRC is now the sole owner of the Tokyo Smoke brand and trademark.
“We are excited to take this important next step in the expansion of OEG Retail Cannabis and the Tokyo Smoke brand across Canada,” said Jürgen Schreiber, CEO, OEG Inc. “The close of this acquisition marks the start of something special for the retail cannabis industry and we are looking forward to bringing our award-winning customer experience, product quality and safety to more Canadians in Manitoba, Saskatchewan, and Newfoundland and Labrador.”
With the transaction now closed, OEGRC is excited to welcome the employees from the newly acquired stores to join the rest of the company in providing a differentiated brand and customer experience.
Overview of the OEGRC acquisition:
- OEGRC has acquired ownership of 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, and Newfoundland and Labrador.
- The Tokyo Smoke brand has been transferred to OEGRC and all purchased stores currently branded as Tweed will be rebranded.
- The master franchise agreement between OEGRC and Canopy Growth has been terminated as OEGRC is now the sole owner of the Tokyo Smoke brand and trademark.
- OEGRC is welcoming all current customer-facing retail employees from the newly acquired stores to the company.
About OEG Retail Cannabis
With decades of retail experience, OEG Inc., a division of Katz Group, is a North American leader in sports and entertainment, hospitality and retail cannabis. OEG Retail Cannabis (OEGRC) is OEG Inc.’s fast-growing, multiple award-winning retail cannabis portfolio led by its flagship brand, Tokyo Smoke. Over the past three years, OEGRC has grown Tokyo Smoke into the largest cannabis retailer in Ontario with over 60 franchise and corporate stores and is well positioned for future success in the early stages of an emerging market.
Learn more at OEG.ca
About Tokyo Smoke
Tokyo Smoke is a multiple award-winning cannabis retailer and market leader with tremendous cross-country expansion and growth potential as the retail cannabis industry continues to consolidate and mature. At Tokyo Smoke, we believe cannabis within the legal market can have a powerful impact and that the customer experience should be nothing short of great. We are committed to bringing our customers the very highest quality, regulated products in stunning retail stores with convenient locations. Tokyo Smoke empowers Canadians to make well-informed decisions about safe, high-quality cannabis products. We curate unique offerings and deliver a product assortment that reflects our customers' interests, neighbourhood-by-neighbourhood.
OEG Retail Cannabis is now the sole owner of the Tokyo Smoke brand and trademark.
Learn more at tokyosmoke.com
Media Contact:
Kevin Rapanos
OEG Retail Cannabis
587-710-0692 or krapanos@tyosmoke.ca
