Green Growth Brands Signs Agreement with Simon Property Group


Feb. 11 2019, Updated 1:54 p.m. ET

Green Growth Brands to launch a chain of CBD shops

In a press release today, Green Growth Brands (GGBXF) announced that it has entered an agreement with Simon Property Group (SPG). The deal provides GGBXF access to 108 prime shop locations in US malls owned by SPG. With these shop locations, GGBXF will launch America’s first chain of CBD shops. It plans to launch its personal care products under its Seventh Sense Botanical Therapy Brand.

GGBXF expects the first shop to be opened by March 2019 at Castleton Square Mall in Indianapolis, Indiana. The expansion to other new shops is expected to take place throughout 2019.

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Peter Horvath, CEO of GGBXF, said, “Our partnership with Simon allows GGB to launch our brands and CBD products in premier shopping destinations across the U.S. Our management team has had decades of experience working closely with developers and operating premium retail stores in their properties. We know this arrangement gives us access to the best locations, foot traffic, and consumers. We look forward to introducing our remarkable retail experience and line of CBD products to Simon shoppers in the near future.”

Stocks in red

At the time of this article, GGBXF was down 2.6%. Peers Aphria (APHA) and Canopy Growth (CGC) were down 8.1% and 5.5%, respectively. However, the S&P 500 (SPY) was relatively flat with gains of 0.1%.


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