- Subversive Acquisition LP (SVX.U) and InterCure sign an agreement with Cookies to expand the iconic cannabis brand across Europe
- Cookies partnership supports InterCure’s growth and European expansion strategy
- InterCure will cultivate Cookies’ products at InterCure’s southern facility
- The operation will be vertically integrated and will include online and retail distribution for Cookies’ branded products
- Subversive Acquisition Lp (SVX.U) is up 2.81 per cent and is trading at C$10.25 at 11:39 am ET
Subversive Acquisition LP (SVX.U) has signed a letter of intent with iconic cannabis brand Cookies for its European expansion.
InterCure will work with Cookies to replicate the success achieved by Cookies in the United States and Israel.
Like InterCure's leading Israeli model, the operation will be vertically integrated and will include online and retail distribution for Cookies’ branded products.
In addition to local production facilities, InterCure will cultivate Cookies’ products at InterCure’s southern facility, the largest and most advanced in Israel, which will also supply Cookies products to Cookies stores throughout Europe.
The partnership with Cookies supports InterCure's international growth strategy to expand into major markets around the world.
Alexander Rabinovitch, InterCure CEO, said,
"We are excited to expand our successful 2-year partnership with the Cookies team to Europe. Cookies is one of the world's top cannabis brands with an exceptional winning positioning."
"This partnership with Cookies further solidifies InterCure as a global cannabis leader, and we look forward to continuing to work together,” added Rabinovitch.
On April 1, 2021, the InterCure shareholder vote approving the transaction passed. The transaction is expected to close by April 8, 2021.
Subversive Acquisition LP is a limited partnership established under the Limited Partnerships Act (Ontario) formed for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets.
InterCure is the first public company on the Tel Aviv Stock Exchange to hold a valid and permanent license for the medical cannabis value chain through its 100 per cent ownership in Canndoc.
At 18, Berner, known today as a prolific Bay Area rapper, entrepreneur and Cookies founder, served as the general manager of "Hemp Center," a medical cannabis dispensary in San Francisco.
There, he was inspired by the city's progressive and compassionate view that cannabis could have a profound and positive impact on chronically or terminally ill patients' lives.
Together with his partner, grow expert Jai, Berner found Cookies in 2008.
Subversive Acquisition LP (SVX.U) is up 2.81 per cent and is trading at C$10.25 at 11:39 am ET.