TPCO Holding Corp. - The Parent Company (OTCQX:GRAMF, NEO:GRAMU) - has acquired an operating retail dispensary in Ceres, California, from the owners of Jayden's Journey.
In a statement, the company said the dispensary increases its distribution reach to a new 1.7 million people and improves its state-wide coverage to about 65% of California's population with a service area that extends from Antioch to Merced.
The terms of the transaction were not disclosed and remain subject to customary closing conditions, including regulatory approval.
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The Parent Company (OTCQX:GRAMF, NEO:GRAMU) said it plans to rebrand the location at a later date.
Known for its advocacy for the veteran community and its support of families with children with disabilities, the company noted that Jayden's has built a strong and loyal customer base in California's Central Valley.
The Ceres Dispensary features large, open retail space to provide consumers with a unique and compelling shopping experience. Also, online orders for delivery through caliva.com, The Parent Company's on-demand direct-to-consumer platform, are immediately available from the new location.
"This is a fantastic opportunity to expand our reach and increase the availability of our exceptional product selection and retail experiences to a broader potential audience of consumers and patients in California's Central Valley," said Steve Allan, CEO of The Parent Company.
"This new location allows us to quickly access this important region and to drive future growth through the introduction of our robust delivery network. We look forward to building off the strong foundation that the team at Jayden's Journey has created while continuing to honor their commitments to the community."
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