● Brand, web, packaging development services and solutions,
● iRollie intellectual property
● Smoking accessories and e-commerce marketplace
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MariMed Inc., today announced it has acquired iRollie LLC, including its intellectual property, clients, and its host of products and services. MariMed hired iRollie’s cofounders Luke Shepter and Joe Khoury to expand the iRollie business as well as to bring their expertise and services in house to support MariMed brands and clients. MariMed acquired iRollie and its executives in exchange for $600,000 in MariMed stock.
The acquisition enables MariMed to round out its ownership portfolio with an ancillary business capable of servicing all existing brands and drive new business, partnerships, and revenue. The MariMed team and iRollie co-founders will be available for interviews at the CannaCon Boston Conference, July 27-28 at MariMed Booth #128, Hynes Convention Ctr.
“MariMed identified a number of synergies between our two companies that we felt best to bring in-house to strengthen internal capabilities. We continue to set new standards in the industry with innovative all-natural cannabis products requiring premium branding, packaging, and marketing as well as strategic sourcing,” stated Tim Shaw, MariMed COO. “iRollie enables an in-house ability to develop, improve and effectively market new and existing brands, as well as add a fast-growing revenue stream of proprietary product offerings to MariMed’s financials.”
The iRollie team designed, prototyped, and produced custom products and packaging for cannabis companies in Massachusetts, Nevada, Colorado, Maine, with distribution facilities in Nevada and Pennsylvania. The co-founders bring formidable talent to MariMed with Khoury’s strong background in cannabis early strategic growth, digital marketing, supply chain management and Shepter’s expertise in redeveloping processing operations for recreational marijuana-infused products, with a strong focus on reducing production costs and increasing scalability.
“We are excited to apply our experience scaling cannabis brands in both recreational and medical markets to create best in class brands,” stated Shepter. “We believe these brands will capture the hearts and minds of B2B customers and consumers alike, and that our synthesis of cutting edge design of physical assets and digital technology will enhance customer retention and maximize ROI,” Khoury concluded.
Date: July 30, 2018