Dec 13, 2022
The transformational deal will combine best-in-class wholesale, retail, manufacturing, and cultivation operations with an expanded product line-up that customers love in the largest cannabis market in the U.S.
RIO VISTA, Calif., Oct. 10, 2022 (GLOBE NEWSWIRE) -- Kolaboration Ventures Corporation ("KVC") ("Kolaboration Ventures" or the "Company") and Mission Nurseries Inc. ("Mission Brands") announced on Oct. 10th that they had concluded a definitive Agreement pursuant to which KVC has acquired all of the issued and outstanding shares of Mission Nurseries Inc.
Key Transactions Highlights and Benefits
Strategic Products & Product Development - Mission Brands' products are loved by tens of thousands of California cannabis consumers across hundreds of dispensaries. This includes Canna-LeanTM, MyBlueDoveTM, BuzziesTM, Don PrimoTM, White WidowTM, Black WidowTM, Comfort CBDTM, NitecapzzTM, Happy DazeTM, and Mission NurseriesTM.
Market share leader in KVC Enjoythefarm.com retail locations - Mission Brands products are in our top products for every category they compete within.
Product Development - Mission Brands SOPs for emulsification and productization enable us to further expand the products and categories their products compete in.
Increased scale and diversification - Adding Mission Brands to the portfolio further bolsters and diversifies KVC's revenue base with higher-value SKUs.
Improved revenue mix - Mission Brands furthers KVC's goal of increasing vertical integration and scale to drive profitability improvement.
"We are incredibly excited to announce this acquisition. KVC brings increased fuel to drive continued product innovation of the Mission Brands product portfolio while furthering the KVC goal of delivering high-quality cannabis products at affordable prices while increasing margin," - Martin Wesley, CEO of Kolaboration Ventures Corporation
"Since our founding, our mission has been to deliver high-quality cannabis products at fair prices to our customers, the opportunity to better achieve our goal led us to joining the KVC family. Kolaboration Ventures continues to expand its retail and cultivation footprint, which furthers our efforts to reduce COGs while increasing product availability to continue to deliver incredibly popular products that consumers love," - Mitchell Davis, CEO of Mission Brands.
About Kolaboration Ventures Corporation
KVC is one of the largest vertically integrated cannabis operators in the largest cannabis market in the country: California. KVC strives to become the most important company in the California cannabis landscape by combining its strategic cultivation footprint with its leading retail, manufacturing, and distribution platform. Employing a consumer-packaged-goods ("CPG") approach to cannabis, KVC's house of brands and products is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted California brands, including Pacific Reserve, Farms Brand, Rio Vista Farms, and Ole'4 Fingers.
Originally Published on Newswire