Cannabis product company Green Growth Brands (GGBXF) said Monday it will open over 70 shops at Brookfield Properties' (BPY) - Get Brookfield Property Partners LP Report shopping centers throughout the United States.
The Toronto-based company said it will have roughly 280 locations by the end of the year. Currently, there are seven GGB shops within the Brookfield Properties' portfolio.
"Brookfield Properties operates some of the most exciting and visited malls in the country, and we are thrilled to introduce our CBD shops to their centers," Peter Horvath, CEO of Green Growth Brands, said in a statement. "We know that consumers prefer to buy personal care and beauty products from physical stores, and this partnership will allow us access to millions of consumers."
In addition to Seventh Sense Shops, Green Growth Brands said it is further expanding its chain of CBD-infused personal care product shops with a new brand called Green Lily, which is "dedicated to empowering women." Four Green Lily locations will open in the near-future at Brookfield Properties' shopping centers.
Earlier this month, the company said it was entering the medical marijuana market in Florida through the acquisition of Spring Oaks Greenhouses.
Last month, Green Growth reported third-quarter total revenue of $5.6 million. The company expanded into Massachusetts during the quarter, through completion of a transaction with Just Healthy LLC.
Shares of Green Growth Brands were trading down about 2% to $2.50.