Prince Tennis Gear Could Feature CBD Under Tilray Deal
- Revenue-sharing agreement will focus on CBD products in U.S.
- Tilray to pay up to $350 million in exchange revenue slice
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Pot firm Tilray Inc. is adding a third company to its growing roster of global partnerships, announcing a revenue-sharing agreement with Authentic Brands Group LLC, owner of more than 50 brands ranging from Nine West shoes to Prince tennis gear.
The deal will see ABG market and distribute cannabis products supplied by Tilray with a particular focus on cannabidiol, or CBD, in the U.S. Nanaimo, British Columbia-based Tilray will pay an initial $100 million to ABG and a further $250 million in cash and stock subject to the achievement of certain commercial and regulatory milestones.