TILT Holdings Inc. (OTCQX:TLLTF) and Colorado's Toast signed a multi-state licensing agreement. Toast's Initial product rollout will begin in Massachusetts through TILT subsidiary Commonwealth Alternative Care, Inc. Tilt will provide full-service wholesale manufacturing, packaging and distribution for several existing Toast SKUs, as well as R&D services to create new products and increase accessibility to medical patients and adult-use consumers.
In the coming months, Toast will debut a new set of SKUs with TILT that are currently under development specially curated for each market.
Gary Santo, CEO of TILT Holdings commented: “Toast is well-known for its impressive craftsmanship and will be a welcome addition in our markets. Toast is an innovative, high-touch brand, making it a natural fit for TILT’s brand growth strategy as we strive to provide medical patients and adult-use consumers with a wider range of quality options.”
Punit Seth, CEO and co-founder of Toast noted that Tilt and Toast share a vision.
“From the beginning, TILT and Toast have had a shared vision about the best model to scale brands in multiple states while staying true to our values and commitment to building a more equitable industry overall," Seth said. "TILT will be crucial in bringing Toast products to scale in these three growing markets, and we are excited to collaborate with their team as they explore additional markets such as New York through their ground-breaking partnership with the Shinnecock Indian Nation.”
Pending regulatory approval, TILT will launch Toast in Pennsylvania and Ohio through its Standard Farms subsidiaries with new SKUs created for each market.
