OEG retail cannabis to acquire retail stores, Tokyo Smoke brand from Canopy Growth in cross-country expansion
September 28, 2022 By Haley Nagasaki
(Globe Newswire) Toronto — As the next chapter in its story of rapid growth, expansion and Canadian market leadership, OEG Retail Cannabis (OEGRC) is acquiring 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 is also acquiring the Tokyo Smoke brand from Canopy Growth as it continues to lead in customer experience, product quality, choice, value and loyalty programs.
Following the close of this acquisition, OEGRC will be the sole owner of the Tokyo Smoke brand and trademark and all Tweed retail stores acquired as part of this transaction will be rebranded.
“We believe this is the start of something special for the retail cannabis industry. With this acquisition, OEG Retail Cannabis and the Tokyo Smoke brand are positioned as outright leaders in Canadian retail cannabis and we are committed to doing everything we can to lead in customer experience, product quality and safety for years to come as the country’s cannabis industry continues to evolve and mature.” — Jürgen Schreiber, CEO, OEG Inc.
OEGRC is excited to welcome all current customer-facing retail employees from the newly acquired stores to continue providing a differentiated brand and customer experience.
“OEG Retail Cannabis and Canopy Growth have been partners for many years now and we are committed to a smooth transition for employees and customers of the newly acquired stores as we await final regulatory approval in the coming months. This agreement is a prime example of the continued advancement of the Canadian cannabis industry, with each respective organization focusing on its strengths and expertise. For OEG Retail Cannabis, this includes significantly expanding its retail footprint nationally, leveraging a long history of retail excellence in Canada. For Canopy Growth, the focus is driving forward a leading premium-focused brand and product portfolio for consumers.” — Jürgen Schreiber, CEO, OEG Inc.
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