Trulieve Announces Partnership with Professional Pickleball Association and Major League Pickleball

Rhea-AI Summary

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) has announced a groundbreaking partnership with the Carvana PPA Tour and MLP by Margaritaville, becoming the first cannabis operator to sponsor professional pickleball organizations. The partnership includes sponsorship of 12 premier pickleball events in Arizona, Florida, and Georgia, starting with the CIBC Atlanta Slam in September 2024.

The collaboration aims to capitalize on pickleball's rapid growth, with the sport boasting 13.6 million players in the U.S. and experiencing a 50% increase in registered players from 2022 to 2023. Trulieve's CEO, Kim Rivers, expressed excitement about connecting with athletes, educating spectators on cannabis benefits, and supporting top players in America's fastest-growing sport.

Positive

• First cannabis operator to partner with professional pickleball organizations, potentially expanding brand visibility
• Sponsorship of 12 premier pickleball events across three states, increasing market presence
• Association with a rapidly growing sport (50% player growth from 2022 to 2023), potentially reaching new audiences
• Opportunity to educate spectators on cannabis benefits, potentially driving customer acquisition

Negative

• None.

News Market Reaction

-9.92%

1 alert

-9.92% News Effect

On the day this news was published, TCNNF declined 9.92%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Trulieve is the first cannabis operator to partner with either professional pickleball organization 

TALLAHASSEE, Fla., Aug. 27, 2024 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announces a partnership with the Carvana PPA Tour ("PPA Tour") and MLP by Margaritaville ("MLP") to sponsor premier pickleball events in Arizona, Florida, and Georgia.

The Professional Pickleball Association stands as the largest professional and amateur pickleball tour in the world, boasting an impressive 25 tour stops nationwide. With over 39,000 amateur players and a 50% growth in registered players from 2022 to 2023, the PPA Tour has also captured the attention of over 275,000 spectators and 20 million fans watching on broadcast in 2023, solidifying its status as a premier sporting event.

Major League Pickleball is the leading team-based, coed pickleball league featuring nearly 100 players across 22 celebrity-owned teams. The 2024 league schedule will showcase 11 events across 10 different states, bringing MLP's exhilarating competition and energetic atmosphere to more places and fans than ever before.

"We are excited to welcome Trulieve as a partner for the PPA Tour and Major League Pickleball," said Jacob Cohen, Vice President of Sales for the United Pickleball Association, the parent organization of the PPA Tour and MLP. "This is an innovative collaboration, and we are looking forward to working with Trulieve as both of us continue to grow rapidly."

Trulieve is sponsoring 12 events, starting with the CIBC Alanta Slam in September, spanning the remaining 2024 and upcoming 2025 schedule. The star-studded PPA Tour and Major League Pickleball feature the best players in the world, including the top 75 men's and top 75 women's players, captivating audiences with their exceptional skill and athleticism. MLP features a collection of regular-season events leading into the season-ending 2024 MLP Playoffs, where 12 of MLP's 22 teams will battle it out at two levels to crown this year's champions.

"Pickleball is experiencing explosive growth across the country, and we are thrilled to partner with both the PPA Tour and Major League Pickleball to support the pickleball revolution," said Trulieve's Chief Executive Officer Kim Rivers. "As the exclusive cannabis sponsor of these select events, we look forward to connecting with athletes, educating spectators on the benefits of cannabis, and supporting the top players of the fastest-growing sport in America."

As the fastest-growing sport for the third straight year with approximately 13.6 million players in the U.S. according to the 2024 Sports & Fitness Industry Association (SFIA) Topline Participation Report, this partnership positions Trulieve, the PPA Tour, and MLP to engage followers, reach new audiences, and foster a sense of community that accelerates cannabis education and acceptance through the joy of pickleball.

For tickets, live streams, and details regarding upcoming Carvana PPA Tour and MLP by Margaritaville events, visit their websites at ppatour.com and majorleaguepickleball.net. Find educational resources and additional information about Trulieve's legal cannabis products and brands at Trulieve.com.

About Carvana PPA Tour
Founded in 2019, the Carvana PPA Tour is where pickleball's top athletes go head-to-head to determine the best male and female players in the world. The Carvana PPA Tour organizes and conducts tournaments at world-class facilities across the country, establishes player rankings, and showcases the world's best pickleball week in and week out. Inviting amateur players to also compete and "play where the pros play," the Carvana PPA Tour offers divisions for every age group and skill level. Characterized by a uniquely festive and fun atmosphere, Carvana PPA Tour events deliver unparalleled experiences for fans on-site, including pro player meet-and-greets, clinics, food, beverages, live entertainment, giveaways, games, shopping, and VIP upgrades. For more information, go to www.ppatour.com, and follow us on social: Twitter, Instagram, YouTube, Facebook, LinkedIn.

About MLP by Margaritaville 
MLP by Margaritaville (Major League Pickleball) is the preeminent team-based professional pickleball league, featuring nearly 100 of the best athletes across 22 teams, a unique coed format, easy to understand scoring, iconic team owners, and the most electric live events and fan experience in the sport. Founded in 2021, MLP named its first-ever title sponsor, Margaritaville, branding the league MLP by Margaritaville in December 2022. For more information on Major League Pickleball, visit the official website and follow MLP on Facebook, Twitter, Instagram, TikTok, and YouTube.

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve   
Instagram: @Trulieve_   
X: @Trulieve 

Investor Contact
Christine Hersey, Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck, APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/trulieve-announces-partnership-with-professional-pickleball-association-and-major-league-pickleball-302230901.html

SOURCE Trulieve Cannabis Corp.

FAQ

What is Trulieve's new partnership in the sports industry?

Trulieve has partnered with the Carvana PPA Tour and MLP by Margaritaville to sponsor premier pickleball events in Arizona, Florida, and Georgia, becoming the first cannabis operator to partner with professional pickleball organizations.

How many events will Trulieve (TCNNF) sponsor in the pickleball partnership?

Trulieve (TCNNF) will sponsor 12 events, starting with the CIBC Atlanta Slam in September 2024, spanning the remaining 2024 and upcoming 2025 schedule.

What is the growth rate of pickleball mentioned in Trulieve's (TCNNF) partnership announcement?

According to the 2024 Sports & Fitness Industry Association Report, pickleball is the fastest-growing sport for the third straight year, with approximately 13.6 million players in the U.S. and a 50% growth in registered players from 2022 to 2023.

What are Trulieve's (TCNNF) goals for this pickleball partnership?

Trulieve aims to connect with athletes, educate spectators on the benefits of cannabis, support top players in the sport, and engage followers while reaching new audiences to accelerate cannabis education and acceptance through pickleball.