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Turning Point Brands, Inc. and ReCreation Marketing Announce that ReCreation Marketing Has Changed Its Name to Turning Point Brands Canada
Rhea-AI Impact
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Rhea-AI Summary
Turning Point Brands, Inc. (TPB) has announced that ReCreation Marketing will now operate under the name Turning Point Brands Canada, effective December 6, 2021. This change follows TPB's majority equity stake acquisition in ReCreation completed on July 30, 2021. The rebranding aims to enhance the exposure of iconic brands like Zig-Zag in Canada and emphasizes TPB Canada's commitment to leading the cannabis accessory market. CEO Larry Wexler highlighted the strategic alignment and potential for growth within the Canadian market.
Positive
TPB increased its equity stake in ReCreation Marketing, strengthening control and influence.
ReCreation Marketing rebranding to TPB Canada aligns with TPB's strategy to expand brand presence in Canada.
The focus on cannabis accessories positions TPB Canada for growth in a burgeoning market.
Negative
None.
--Rebrand a Result of Turning Point Brands, Inc. Increasing Equity Stake in ReCreation in July 2021--
--Name Change Marks Turning Point Brands, Inc.’s Continued Expansion in North America--
MONTREAL--(BUSINESS WIRE)--
Turning Point Brands, Inc. (“TPB”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, and ReCreation Marketing (“ReCreation”), a Canadian distribution company, announced today that ReCreation Marketing has changed its name, and will be known and operate as Turning Point Brands Canada (“TPB Canada”), effective December 6, 2021.
The name change follows a transaction completed on July 30, 2021 that resulted in Turning Point Brands increasing its equity stake in ReCreation Marketing to a majority position.
“ReCreation Marketing changing its name to Turning Point Brands Canada reflects our commitment to our shared values with TPB and to expanding the exposure and reach of iconic core brands, such as Zig-Zag, in Canada,” said Mikail Fancy, Chief Operating Officer of Turning Point Brands Canada. “TPB Canada is laser-focused on creating value directly with, and for, our partners, by offering a portfolio of recognized, differentiated, consumer-relevant brands and products.”
Turning Point Brands Canada continues to focus its resources on being a leader in the cannabis accessory category in Canada by fostering long-term, growth-oriented partnerships with manufacturers and retailers.
“The rebrand of ReCreation Marketing to TPB Canada is a testament to our confidence in the ReCreation management team and is a natural extension of our infrastructure and portfolio development that puts consumers and their evolving needs at the center of our strategy,” added Larry Wexler, CEO, Turning Point Brands. “This change further demonstrates our commitment to positioning TPB as a leader in branded consumer products.”
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 Turning Point Brands Canada
Turning Point Brands Canada Corporation (FKA ReCreation Marketing) is a specialty marketing and distribution firm focused on building brands in the Canadian smoking, vaping and alternative products categories. TPB Canada’s management has significant expertise in marketing and distributing tobacco products throughout Canada, with over 50 years of combined experience building and managing a portfolio of premium brands. TPB Canada’s management is supported by a team of expert sales associates who serve up to 25,000 traditional retail outlets and newly-established cannabis dispensaries across Canada.
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.
