CULTA announced that its subsidiary CULTA Dispensary Group has signed a definitive agreement to purchase Growing Ventures (dba Greenhouse Wellness) and K&R holdings (dba Kannavis).
"During the process of bringing Blissiva to market with CULTA earlier this year we got to know CULTA and were excited when they approached us and asked if we would want to join their family," stated Gina Dubbé, co-founder of Greenhouse Wellness. "Their emphasis on product quality and a positive patient experience, coupled with their focus on closing the gender gap within the cannabis industry, made us very comfortable with them acquiring our dispensary."
Allison Siegel, CEO of CULTA, stated: "I cannot wait to take the next steps to integrate both Greenhouse Wellness and Kannavis into the CULTA family. We have been looking for the right fit to expand our footprint for some time. After getting to know the Greenhouse Wellness and Kannavis ownership, it was clear we finally found the right path to do just that. Both of these dispensaries have been innovative in serving their patients' needs and built their business with passion and integrity. We are ecstatic about adult-use legalization, and anticipate more Marylanders will begin exploring the benefits of cannabis as a result. By broadening our presence now, we hope more medical patients, and eventually recreational users, will be able to experience what it's like to purchase cannabis from a company that's committed to quality above all else."
There are no plans to immediately relocate the dispensaries, and CULTA intends to onboard and retain their staff to ensure that in addition to their current success, they can also represent and encompass the core values of CULTA. The official date of acquisition is dependent on state approval of the transfer of ownership.
Photo: Benzinga edit with photos by geralt and lindsayfox on Pixabay
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