The Parent Company Boosts California Retail Footprint With Acquisition Of Dispensary In Ceres

TPCO Holding Corp. GRAM GRAMF, which is doing business as The Parent Company, continues to expand its presence in California with the acquisition of Jayden's Journey retail dispensary in the Modesto Metro Area.

The store, located at 4030 Farm Supply Dr in Ceres, brings the company's coverage in the Golden State to roughly 65% of the state's population.

The terms of the deal remained undisclosed, however, the San Jose-based company revealed its plans to rebrand Jayden's Journey Ceres-based retail dispensary.

The move follows the recent launch of a new delivery hub in Chula Vista, which enables The Parent company to reach an additional 3.3 million residents in greater San Diego.

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"This is a fantastic opportunity to expand our reach and increase availability of our exceptional product selection and retail experiences to a broader potential audience of consumers and patients in California's Central Valley," Steve Allan, CEO of The Parent Company, said Tuesday. "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."

The Parent Company introduced a shoppable app for iPhone users in July, shortly after Apple Inc AAPL updated its policies to allow cannabis-focused apps on its store.

Caliva Delivery App, available through the Apple App Store, provides California consumers 21 and older with easier access to weed via the app.

Photo: Courtesy of CNW Group/TPCO Holding Corp