Worcester Business Journal

wbjournal.com | July 22, 2024 | Worcester Business Journal 5 I N B R I E F Diversifying healthcare "There are some kinds of implicit biases that all of us have, including providers, that sometimes lead them to provide different care to patients, depending on race, ethnicity, other factors. Some of these biases, they're not even aware of, but when you look at data you can identify some of these systematic patterns." Amie Shei, CEO and president of The Health Foundation of Central Massachusetts, on a new survey from the Mass. Center for Health Information & Analysis, which found a lack of diverse representation in healthcare leadership New bank CEO "I am honored to have worked alongside Paul for the past 13 years. As I assume the organization's leadership, I am dedicated to the bank's continued growth and supporting our customers, community, and team members." Mary McGovern, president of Ware-based Country Bank, who will become the first female CEO in the bank's 174-year history on Aug. 1 after the retirement of Paul Scully following his 28-year tenure with the bank Conscientious credit "Affordable housing is a big challenge in Worcester County. It requires creative solutions that go well beyond traditional foundation grantmaking. By providing WCHR with a low-interest line of credit, we can offer more resources and have a greater impact." Pete Dunn, president and CEO of Greater Worcester Community Foundation, on GWCF's partnership with Worcester Community Housing Resources, which provides a $1-million low-interest line-of-credit fund to support affordable housing initiatives in Worcester County BY ERIC CASEY WBJ Staff Writer W orcester-based social equity cannabis dispensary New Dia is suing a California- based entity, claiming the firm has failed to pay an agreed upon purchase price of $2 million for a minority stake in the dispensary. e lawsuit, filed in Suffolk County Superior Court on July 1, alleges that CR Operator Holdings LLC has failed to pay New Dia $2 million for 49% ownership of the company, following a 2021 agreement where the newly opened New Dia cannabis dispensary begin operating under the global Cookies cannabis brand name. Other entities including Delaware- based TRP HoldCo LLC, and California- based Cookies Retail LLC and Cookies Holdings LLC, are named in the lawsuit, as is Vicente Sederberg LLC, a law firm with offices in Boston and Denver now operating under the name Vicente LLC. TRP HoldCo is a California-based entity founded in 2019. e company says it is a retail, cultivation, and distribution platform that serves as the exclusive provider and seller of Cookies and other cannabis brands, including Dr. Greenthumb's, a brand started by California rapper Louis "B-Real" Freese, one of the two leading performers in hip Cookies-branded dispensary in Worcester sues California firm over $2M ownership sale Ross Bradshaw founded his Worcester dispensary as New Dia in 2021 and then rebranded as Cookies after the national brand sought a minority ownership stake. hop group Cypress Hill. TRP is the largest owner and operator of Cookies-branded dispensaries in the country, according to a press release issued by the company in August 2022. e company appears to be legally distinct from entities operated by California- based rapper and entrepreneur Gilbert "Berner" Milam, the founder of the Cookies brand. Milam founded Cookies around 2008 with California cannabis breeder and cultivator Jai Chang by launching a medical cannabis dispensary in San Francisco. Since then, the brand has obtained a global presence, with 70 cannabis dispensaries across six countries operating under the Cookies brand name, according to Cookies' website. In the lawsuit, New Dia states that CR Operator Holdings typically takes controlling interest in cannabis businesses it invests in. However, the lawsuit alleges CR agreed to purchase 49% of the company in order to preserve the business' status as a social equity business under state law. New Dia's lawsuit claims attempts to close the transaction have been stifled by CR, who allegedly told New Dia majority owner Ross Bradshaw in an email it did not have $2 million available to complete the deal. Nonetheless, the lawsuit claims CR and associated entities presented themselves as a profitable company that were the majority owners of New Dia, attempting to coerce the Worcester dispensary into modifying the already-executed deal. In a statement to WBJ, Cookies President Parker Berling said neither Cookies or Milam are involved in the management of the companies facing the lawsuit from New Dia. "Cookies Retail, conduct[ing] business in Worcester under the name TRP Holdco, and is a separate entity from Cookies. Cookies licensed it the right to use Cookies' trade names, trademarks and logos. Neither Berner nor any of the Cookies team operates or manages the defendants in this lawsuit," Berling said in the statement. Bradshaw declined to comment when contacted by WBJ. In addition to being the majority owner of the Worcester dispensary that operates under the Cookies brand name, Bradshaw operates New Dia Fenway, a cannabis dispensary located on Lansdowne Street next to Fenway Park in Boston. Milam, the co-founder of Cookies, is not named as a defendant in the lawsuit. W PHOTO | WBJ FILE

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