Turning Points Brands Acquires Stock in Wild Hempettes

On Mon Oct. 5, Turning Point Brands Inc. (NYSE: TPB) announced that it had acquired a 20% stake in Wild Hempettes LLC. Part of the deal includes Turning Point Brands having the option to increase its stake to a 100% ownership position, based on particular milestones.  

The Wild Hempettes joint venture was spun off from Crown Distributing LLC, becoming an entity for TPB to be the exclusive distributor of Wild Hempettes to U.S. “brick and mortar” sellers under a profit-sharing arrangement. All Hempettes wholesale and retail accounts will immediately transition to Turning Point Brands. Other products including tinctures, tonics, gummies, vape and hemp wrapper products will remain under Crown Distributing LLC and the America Juice Company LLC.

Wild Hemp's and TPB's CEO's Praise th...

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