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. - October 10, 2022 - (Newswire.com)
Kolaboration Ventures Corporation ("KVC") ("Kolaboration Ventures" or the "Company") and Mission Nurseries Inc. ("Mission Brands") announced today they have concluded a definitive Agreement pursuant to which KVC has acquired all of the issued and outstanding shares of Mission Nurseries Inc.
Key Transaction 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.
Balanced Economics
- 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.
Management Commentary
"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," said 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," said 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.
To learn more, please visit KolaborationVentures.com.
Media Contact Kevin Miguel, Ability Advertising: Press@KolaborationVentures.com
Investor Contact IR@KolaborationVentures.com
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of KVC to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. KVC undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in its expectations.
Contact Information:
Kevin Miguel
Press Associate
press@kolaborationventures.com
Press Release Service by Newswire.com
Original Source: Kolaboration Ventures Expands Product Lineup Through Mission Nurseries Acquisition
