Mr. Chuck Smith of Bellrock reports
BELLROCK BRANDS EXECUTES ON GROWTH STRATEGY BY EXPANDING INTO FLORIDA VIA MEDMEN PARTNERSHIP
Bellrock Brands Inc. has entered into a licensing agreement with Medmen Enterprises Inc. to bring flagship brands Mary's and Dixie into Medmen stores across the state of Florida. Medmen, a leading cannabis retailer with operations across the United States, is now licensed to manufacture, distribute and sell Mary's Medicinals and Dixie products in its Florida retail locations.
Widely recognized for its innovative portfolio of delivery methods, Mary's suite of cannabis products includes transdermal gels, patches and topicals. Founded in 2013, the company possesses a robust library of intellectual property including a U.S. patent for its acclaimed transdermal technology. Dixie, a pioneer in the development of infused cannabis products since 2010, has built a robust stable of products including beverages, gummies, mints, and taffies. Dixie is the No. 1 edibles brand in the dynamic Michigan market (source: Leaflink MarketScape, November, 2020). Together, the Bellrock brands offer one of the largest spectrums of high-quality CPG (consumer packaged goods) products in the cannabis industry with 11 brands and over 200 SKUs.
"Florida represents an important market in our growth strategy, and we are very pleased to team up with Medmen to bring our flagship brands Mary's and Dixie into their stores and make our products available to residents in the state," said Bellrock Brands chief executive officer Chuck Smith. "With the Florida market recently embracing infused products, we expect strong growth as the market continues to expand and the demand for diverse cannabis products increases."
Bellrock expects to launch its initial products, including topicals, transdermal patches and gels, and ingestibles in Florida with Medmen during the first quarter of 2021, pending regulatory approval, with the balance of the portfolio coming on-line throughout the remainder of the year. The company expects to begin distribution during Q1 across the entire Medmen retail platform, which includes four operational stores with plans to open in Miami Beach early in 2021.
"We are thrilled to have Bellrock Brands join our product offering in Florida," said Tom Lynch, Medmen interim chief executive officer and chairman of the board. "Mary's and Dixie are two brands we hold in high regard, not only for their long-standing heritage in the cannabis industry, but also their focus on creating quality, trustworthy products that appeal to a wide range of cannabis consumers."
About Bellrock Brands Inc.
Bellrock Brands is a brand and IP-focused CPG, multistate operator that possesses one of the industry's broadest branded product portfolios catering to the growing and ever-evolving cannabis consumer. Bellrock's portfolio consists of two iconic cannabis brands with deep history, Mary's Brands (a pioneer in the health and wellness segment since 2013) and Dixie (a market-leading THC (tetrahydrocannabinol) infused edibles brand since 2010), as well as two growing, California-based brands, Rebel Coast and Defonce. Together, the Bellrock brands offer a vast spectrum of high-quality cannabis-centric consumer packaged goods. With 11 brands and over 200 SKUs, Bellrock reaches nearly every key consumer group and addresses the needs of a diverse cannabis consumer base. The Bellrock manufacturing and distribution footprint continues to expand and currently spans nine states, and the company owns or manages production facilities in its largest markets.
About Medmen Enterprises Inc.
Medmen is a cannabis retailer with flagship locations in California, Nevada, Illinois, Florida and New York. Medmen offers a robust selection of high-quality products, including Medmen-owned brands [statemade], LuxLyte and Medmen Red through its premium retail stores, proprietary delivery service, as well as curbside and in-store pickup. Medmen Buds, the company's loyalty program, provides exclusive access to promotions, product drops and content. Medmen believes that a world where cannabis is legal and regulated is safer, healthier and happier.
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