Image: Hollister Biosciences and ER71 USA "Easyriders" signs LOI for proposed joint venture agreement. Photo: courtesy of Gerd Altmann from Pixabay.
Hollister Biosciences, a California based cannabis and hemp branding company and ER71 USA, an iconic brand with millions of followers globally, have entered into a letter of intent (LOI) to complete a joint venture agreement. Upon completion of the Joint Venture, Hollister and Easyriders will collaborate on the development and marketing of co-branded hemp based everyday premium product lines. Execution of the Agreement is subject to obtaining consumer data and leveraging convenience store relationships to forecast revenue from a co-branded hemp product line.
Hollister is proud to announce its partnership with Easyriders as the brand’s official marketing partner. From the birthplace of the American Biker, Hollister is the first licensed and operational cannabis and hemp company in Hollister, California with a mission to embrace the outlaw roots of Hollister, while providing premium-quality hemp products.
Under the terms of the Agreement, Easyriders will contribute artwork, logos and package design for a series of pre-rolled products using hemp. On an ongoing basis, Easyriders will be financially responsible for all design areas as well as packaging designs and be financially responsible for marketing that is a percentage of revenue for the co-branded product line. Hollister will be responsible for all aspects of production and procurement of underlying materials. All production of hemp products will take place under Hollister’s supervision and licenses and Hollister will be responsible for all costs associated with production which includes the cost of producing and shipping the products. Easyriders and Hollister will further explore the development and marketing of additional product SKU’s for hemp-based edibles, vapes, topicals and beverages. Revenue generated on the co-branded product lines will be shared 50:50 between Easyriders and Hollister.
The partnership between Hollister and Easyriders will be officially announced at the Dream House MJBiz VIP Event in Las Vegas, Nevada. The most-anticipated after-party of the MJBiz Conference presented by Farechild will take place on December 12, 2019, in close proximity to the famous Las Vegas strip. Hollister is the event’s premier sponsor, offering VIP’s an exclusive on-site adult consumption area in “The Den.”
Easyriders shared, “We at Easyriders are excited about the opportunity to explore this new category with a reputable company such as Hollister. Both companies are based in California and both have deep roots in the motorcycle world. It makes sense that we do this together.”
In discussing the partnership with Easyriders, CEO of Hollister, Carl Saling shared, “I cannot think of a better partnership. As Hollister, California is the birthplace of the American Biker, I feel we’re paying homage to the rebel spirit Hollister embodies with the official Easyriders partnership.”
Source: Company Press Release